Feb. 11 Olaf Svendsen, the owner, issued Check No. 118 for his home phone bil $275. 13 Issued Check No. 119 in full payment of the purchase of February 3. 15 Issued Check No. 120 for the cash purchase of office supplies, $325, 17 Purchased display cases from Best Equipment Co., $1,650; terms, n/30 Invoice No. 111. 22 Purchased office supplies from Office Suppliers, $920; terms, n/30; Invoice No. 112. 25 Issued Check No. 121 to Al's Sports Wholesalers for payment on account, $1,000. 27 Issued Check No. 122 for the purchase of February 17. 28 Issued Check No. 123 for monthly salaries, $1,500. 28 Issued Check No, 124 for freight charges on merchandise, $295 Directions: . Open the following accouns in the general ledget, and enter the balances as of 1: Balance Directions: 1. Open the following accounts in the general ledger, and enter the balances as of February 1: Account Cash Office Supplies Prepaid Insurance Store Equipment Accounts Payable Olaf Svendsen, Drawing Purchases Purchases Discounts Freight In Salaries Expense Rent Expense Balance 112 113 116 211 312 511 511.2 512 612 613 $16,000 980 75 15,600 10,810 1.200 9,500 345 128 1,500 900 2. Open the following accounts in the accounts payable ledger, and record the balances as of February 1: Account Balance $3,710 2,350 3,000 1,750 All-American Co Al's Sports Wholesalers Best Equipment Co Office Suppliers 3. Record the February transactions in the appropriate journal, either a two-column general journal, a one-column purchases journal, or a cash payments journal (like the ones illustrated in the chapter). Post to the accounts payable ledger after each entry 4. Total the special journals. Make all individual postings from the cash payments journal and the general journal to the general ledger at the end of the month. Then, post the column totals from the special journals. 5. Prepare a schedule of accounts payable. 6. Compare the balance of the Accounts Payable controlling account with the total of the schedule of accounts payable