Question
Laoshan Company uses a cash payments journal for all its payments by cheque. At the end ofDecember, the journal shows the followinginformation: LOADING... (Click on
Laoshan Company uses a cash payments journal for all its payments by cheque. At the end ofDecember, the journal shows the followinginformation:
LOADING...
(Click on the icon to view thejournal.)
When this journal isposted, what entry will be made to the accounts payable controlaccount?
A.
debit $7,880
B.
debit $4,800
C.
credit $7,880
D.
credit
Laoshan Company uses a cash payments journal for all its payments by cheque. At the end ofDecember, the journal shows the followinginformation:
LOADING...
(Click on the icon to view thejournal.)
When this journal isposted, what entry will be made to the accounts payable controlaccount?
A.
debit $7,880
B.
debit $4,800
C.
credit $7,880
D.
credit $4,800
Click to select your answer.
Journal
Date
Cheque#
Account Debited
Other Accounts
Debit
Accounts
Payable
Debit
Cash
Credit
Dec. 3
4022
Supplies
$460
$460
9
4023
Adams Co.
$1,200
1,200
15
4024
Repair expense
145
145
19
4025
Inventory
2,400
2,400
21
4026
Misc. expense
75
75
23
4027
McDermott Co.
3,600
3,600
Total
$3,080
$4,800
$7,880
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started