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Digital World is a retail store that sells cameras and photography supplies. The firm's credit purchases and purchases returns and allowances transactions for June 2

Digital World is a retail store that sells cameras and photography supplies. The firm's credit purchases and purchases
returns and allowances transactions for June 20X1 appear below, along with the general ledger accounts used to record
these transactions. The balance shown in Accounts Payable is for the beginning of June.
DATE TRANSACTIONS
June 1 Purchased instant canteras for $1,840 plus a freight charge of $125 fron Pro Photo Equipnent, Invoice
4241, dated Nay 27; the terms are 60 days net.
Purchased filn for $1,373 fron Photo Supplies, Invoice 1102, dated June 3, net payable in 45 days.
12 Purchased lenses for $995 fron Nano Glass. Invoice 7282, dated June 9; the terns are 1/10, n/60.
18 Received credit Memorandum 110 for $295 fron Pro Photo Equipnent for defective canteras that were
returned; they were originally purchased on Invoice 4241, dated May 27.
20 Purchased color filn for $99e plus freight of $54 fron Photo Supplies, Invoice 1148, dated June 15,
net payable in 45 days.
23 Purchased canera cases for $1,935 fron Hi-Qual Case, Invoice 3108, dated June 18, net due and payable
in 45 days.
28 Purchased lens filters for $2,269 plus freight of $99 fron Holtz Spectrun, Invoice 5027, dated June
24; the terms are 210,n30.
30 Received Credit Menorandun 1108 for $205 fron Hi-Qual Case; the anount is an allowance for danaged
but usable goods purchased on Invoice 3108, dated June 18.
Required:
Set up an accounts payable subsidiary ledger for Digital World. Enter the balances as of June 1,20X1 for each of the creditors.
Post the opening balances and transactions from the purchases journal and the general journal.
Prepare a schedule of accounts payable for June 30.
Check the total of the schedule of accounts payable against the balance of the Accounts Payable account in the general ledger.
The two amounts should be equal.
Analyze:
What amount is owed to Nano Glass on June 30?
Complete this question by entering your answers in the tabs below.
Post the opening balances and transactions from the purchases journal and the general joumal.
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