Chapter 3 p. 206 Problem Set B PB13

Post the following November transactions to T-accounts for Accounts Payable, Inventory, and Cash, indicating the ending balance. Assume no beginning balances in Accounts Payable and Inventory, and a beginning Cash balance of $21,220.

A. purchased merchandise inventory on account, $9,900

Accounts Payable
	_________?__________

Inventory
________?__________

B. paid vendors for part of inventory purchased earlier in month, $6,500

Cash
Beg. Bal. 21,220.00
	_________?________

Accounts Payable
	9,900.00
______?_______

C. purchased merchandise inventory for cash, $4,750

Cash
Beg. Bal. 21,220.00
	6,500.00
	____?_____
Bal. _____?______

Accounts Payable
	9,900.00
6,500.00
	Bal. _____?______

Inventory
9,900.00
_______?_______
Bal. ______?______