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 $20$X$1$ 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 $$99$e plus freight of $$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 $\frac{2}{10},\frac{n}{30}.$

$30$ 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 $1,20$X$1$ 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.