Office Plus is a retail business that sells office equipment, furniture, and supplies. Its credit purchases allowances for September are shown below. The general ledger accounts and the creditors' account subsidiary ledger used to record these transactions are also provided. All balances shown are for the GENERAL LEDGER ACCOUNTS 205 Accounts payable, $28,156 Cr. 501 Purchases 502 Freight In 503 Purchases returns and allowances Creditors Terms n/60 1/10, n/30 Name Apex office Machines, Inc. Brown Paper Company Dalton Office Furniture Company Davis Corporation Zenn Furniture, Inc. Balance $ 10,860 2,020 9,476 2/10, n/30 5,800 DATE TRANSACTIONS Purchased desks for $7.820 plus a freight charge of $202 from Dalton Office DATE TRANSACTIONS Sept. 3 Purchased desks for $7,820 plus a freight charge of $202 from Dalton Office Furniture Company, Invoice 4213, dated August 29; the terms are 30 days net. 7 Purchased computers for $10,300 from Apex office Machines, Inc., Invoice 9217, dated September 2, net due and payable in 60 days. 10 Received Credit Memorandum 511 for $500 from Dalton office Furniture Company; the amount is an allowance for damaged but usable desks purchased on Invoice 4213, dated August 29. 16 Purchased file cabinets for $2,456 plus a freight charge of $114 from Davis Corporation, Invoice 8066, dated September ll; the terms are 30 days net. 20 Purchased electronic desk calculators for $1,200 from Apex Office Machines, Inc., Invoice 11011, dated September 15, net due and payable in 60 days. 23 Purchased bond paper and copy machine paper for $6,500 plus a freight charge of $100 from Brown Paper Company, Invoice 6498, dated September 18; the terms are 1/10, n/30. 28 Received Credit Memorandum 312 for $780 from Apex Office Machines, Inc., for defective calculators that were returned; the calculators were originally purchased on Invoice 11011, dated September 15. 30 Purchased office chairs for $3,740 plus a freight charge of $150 from Zenn Furniture, Inc., Invoice 696, dated September 25; the terms are 2/10, n/30. Required: 1. Open the general ledger accounts and enter the balance of Accounts Payable for September 1, 20X1. 2. Open the creditors' accounts in the accounts payable subsidiary ledger and enter the balances for September 1. 3. Record the transactions in a three-column purchases journal and in a general journal. 4. Post to the accounts payable subsidiary ledger daily. 5. Post the entries from the general journal to the proper general ledger accounts at the end of the month. 6. Total and rule the purchases journal as of September 30. 7. Post the column totals from the purchases journal to the proper general ledger accounts. 8. Prepare a schedule of accounts payable and compare the balance of the Accounts Payable control account with the schedule of accounts payable. 30 Purchased offace chai18 OLSS! September 25; the terms are 2/10, n/30. Required: 1. Open the general ledger accounts and enter the balance of Accounts Payable for September 1, 20X1. 2. Open the creditors' accounts in the accounts payable subsidiary ledger and enter the balances for September 1. 3. Record the transactions in a three-column purchases journal and in a general journal. 4. Post to the accounts payable subsidiary ledger daily. 5. Post the entries from the general journal to the proper general ledger accounts at the end of the month. 6. Tota and rule the purchases journal as of September 30. 7. Post the column totals from the purchases journal to the proper general ledger accounts. 8. Prepare a schedule of accounts payable and compare the balance of the Accounts Payable control account with the schedule of accounts payable. Analyze: What total amount was recorded for purchases returns and allowances in the month of September? What percentage of total purchases does this represent? Complete this question by entering your answers in the tabs below. Ledgers Purchases Journal General Journal Schedule of AP Analyze Prev 1 of 1 Next Enter the opening balances and transactions into the appropriate ledger accounts. Account No. 501 Credit Balance Debit General Ledger Account No. 205 Purchases Credit Balance Date Sep 30, 20X1 (500) (1,280) (3,340) 3,890 (3,890) Accounts Payable Date Debit Sep 01, 20X1 Sep 10, 20X1 500 Sep 28, 20X1 780 Sep 30, 20X1 2,060 Freight In Account No. 502 Account No. 503 Date Debit Credit Balance Purchases Returns and Allowances Date Debit Sep 10, 20X1 Sep 28, 20X1 Credit Balance Sep 30, 20X1 3,890 (3,890) Accounts Payable Subsidiary Ledger Terms n/60 Brown Paper Company Aney Office Machines Inc. Terms 1110 n130 Prey 1 of 1 Next Terms n/60 Terms 1/10, n/30 Credit Balance Credit Balance Apex Office Machines, Inc. Date Debit Sep 01, 20X1 Sep 07, 20X1 Sep 20, 20X1 Sep 28, 20X1 Brown Paper Company Date Debit Sep 01, 20X1 Sep 23, 20X1 Dalton Office Furniture Company Terms n/30 Davis Corporation Terms n/30 ces Date Debit Credit Balance Date Debit Credit Balance Sep 16, 20X1 Sep 01, 20X1 Sep 03, 20X1 Sep 10, 20X1 Terms 2/10, n/30 Credit Balance Zenn Furniture, Inc. Date Debit Sep 01, 20X1 Sep 30, 20X1 Prey 1 of 1 LAM Next Ledgers Purchases Journal General Journal Schedule of AP Analyze What total amount was recorded for purchases returns and allowances in the month of September? What percentage of total purchases does this represent? (Round your percentage answer to 1 decimal place.) Purchases returns and allowances Percentage of total purchases