Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

J. B. Speck, owner of Speck's Galleria, made the following purchases of merchandise on account during the month of September: Sept. 3 Purchase Invoice

image text in transcribedimage text in transcribedimage text in transcribed

J. B. Speck, owner of Speck's Galleria, made the following purchases of merchandise on account during the month of September: Sept. 3 Purchase Invoice No. 415, $2,540, from Smith Distributors. 8 Purchase Invoice No. 132, $3,860, from Michaels Wholesaler. 11 Purchase Invoice No. 614, $3,040, from J. B. Sanders & Co. 18 Purchase Invoice No. 329, $2,210, from Bateman & Jones, Inc. 23 Purchase Invoice No. 867, $4,000, from Smith Distributors. 27 Purchase Invoice No. 744, $2,100, from Anderson Company. 30 Purchase Invoice No. 652, $2,590, from Michaels Wholesaler. Required: 1. Record the transactions in the purchases journal. Total and rule the journal. Page: 7 DATE INVOICE NO. FROM WHOM PURCHASED POST. PURCHASES DEBIT REF. ACCTS. PAY. CREDIT M. d 1 1 M. d 2 M. d 3 M. d 4 M. d 5 M. d 6 7 8 M. d 2 3 4 5 6 7 8 2. Post from the purchases journal to the general ledger and accounts payable ledger accounts. Use account numbers as shown in the chapter. If an amount box does not require an entry, leave it blank. Initial "P" for Purchases Journal and the journal page number are used for posting reference. For example: Purchases Journal page 7 POST. REF. is simply P7. Account Accounts Payable M. d DATE GENERAL LEDGER Account No. 202 BALANCE POST. ITEM DEBIT CREDIT REF. DEBIT CREDIT

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

College Accounting

Authors: Heintz and Parry

20th Edition

1285892070, 538489669, 9781111790301, 978-1285892078, 9780538489669, 1111790302, 978-0538745192

More Books

Students also viewed these Accounting questions