Bargain Beachwear & Accessories' purchases journal recorded five entries that were for valid transactions, However, the purchases journal had several errors. Actually, only one entry was correct, and the other four entries had errors, PURCHASES JOURNAL Credits OTHER ACCOUNTS Account Invoice Post Accounts Account Post DATE Credited Date Ret. Payable Inventory Supplies Title Ref. Amount June Beach Apparel 06/04 6.900 Purchases Discounts 300 6. 900 T Furniture Forever 5,000 5,000 13 Quick Office Suppliers 06/13 2,000 2,000 Beach Swimwear 06/13 4,400 4,400 Sunny Sundresses 06/25 4,000 13,000 Totals 18 300 9.400 2.000 (200) _(120) (130) Required: A. Which entry in the purchases journal was recorded correctly? B. Prepare a corrected purchases journal. If required, create your own chart of account number.Shoes Supreme used the perpetual inventory system. All of its credit sales have the terms 2/10, n/30. Shoes Supreme Incurred the following November 2018 transactions: . Nov. 3: Issued invoice # 220 for $ 8,000 sales on account to Wilson Lid. Cost of this inventory was $ 4,500. Nov. 4: $ 20,000 Inventory was purchased on account from Dancing Shoes Led. The terms were 4/10, n/60. Nov. 5: Received $ 2,000 cash for selling lovestory. Cost of this inventory was $ 1,200. Nov. 6: Purchased supplies for $ 3,300. It was paid by cheque # 330. Nov. 8: Received $ 7,000 interest revenue. Nov. 10: Issued invoice # 221 for $ 20,000 sales on account to Private Design Lid. Cost of this inventory was $ 12,090. Nov. 1 1: Purchased $ 2,800 office furniture. It was paid by cheque # 331. Nov. 12: Received $ 7,840 from Wilson Lid. in full settlement of its accounts receivable. Nov. 13: Paid Dancing Shoes Lid. with cheques # 132. Nov, 15: Purchased $ 9.090 inventory on account from Laces Lid. The terms were 2/10, n/60. . Nov, 16: Issued invoice # 212 for $ 9,000 sales on account to Children's Wear Lid. Cost of this inventory was $ 6,509. Nov, 17: Issued credit memo to Children's Wear Lid. for $ 9,000 for merchandise sent by mistake and was returned to Shoes Supreme. Also accounted for receipt of the inventory. Nov, 18: Issued invoice # 213 for $ 4,000 sales on account to Wilson Lid. Cost of this inventory was $ 2,800. Nov. 19: Received $ 19,600 from Private Design Lid. in fall settlement of its accounts receivable. Nov. 20: Purchased $ 10,000 inventory on account from Jones Lid. The terms were net 30. Nov. 21: Purchased $ 22,000 brochures on socount from Direct Printing Lid. The terms were 2/10, n/60. Advertising Expense was debited. Nov. 22: Paid Radio Led. $ 30,000 with cheques # 333 to place radio ads to air the last week in December. Prepaid Advertising was debited Nov. 23: Sold supplies to an employee for $ 100 cash, which was the cost of the supplies. Nov. 25: Paid $ 300 telephone bill with cheques # 334.. Nov, 26: Purchased $ 15,000 Inventory on account from Laces Lid. The terms were 3/10, n/30. Nov, 27: Returned defective inventory to Laces Lid. Issued a debit memo for $ 2,000. Nov, 28: Issued invoice # 224 for $ 7,000 sales on account to Private Design Lid. Cost of this inventory was $ 5,400. Nov. 28: Received $ 3,920 from Wilson Led. in full settlement of its accounts receivable. Nov. 30: Paid $ 2,000 salary with cheques # 335. Required: A. Open Shoes Suppos's general ledger accounts using the following chart of account numbers provided: Cash 100 Sales Discounts 410 Accounts Receivable 1 10 Sales Returns & Allowances 420 Supplies 120 Interest Revenue 430 Prepaid Advertising 130 Cost of Goods Sold 900 Inventory 140 Salary Expense $10 Office Furniture 150 Advertising Expense $20 Accounts Payable 20 0 Telephone Expense $30 Sales Revenue 40 0 B. Open these accounts in the accounts receivable subsidiary ledger accounts: Private Design Lid., Children's Wear Lid., and Wilson Led. Open these accounts in the accounts payable subsidiary ledger accounts: Dancing Shoes Lid., Laces Led., and Jones Lid. C. Record the above November transactions in a sales journal (page 7), a cash receipts journal (page 4), a purchases joumal (page 3), a cash payments journal (page 8), and a general journal (page 5). Ignore PST and GST. D. Post daily to the accounts receivable and accounts payable subsidiary ledgers. Post the individual amounts to the general ledger accounts on the date recorded in the journals. Post column journal totals to the general ledger accounts on November 30. E. Total the columns in the journals. Illustrate that the total debits equal the total credits in each journal. F. Balance/reconcile the accounts receivable subsidiary ledgers and the accounts receivable in the general ledger. Balance reconcile the accounts payable subsidiary ledgers and the accounts payable in the general ledger