Question
Post the following November transactions to T-accounts for Accounts Payable, Inventory, and Cash, indicating the ending balance. Assume no beginning balances in Accounts Payable and
Post the following November transactions to T-accounts for Accounts Payable, Inventory, and Cash, indicating the ending balance. Assume no beginning balances in Accounts Payable and Inventory, and a beginning Cash balance of $21,220.
A. purchased merchandise inventory on account, $9,900
Accounts Payable
Inventory
B. paid vendors for part of inventory purchased earlier in month, $6,500
Cash
Beg. Bal.21,220.00
Accounts Payable
9,900.00
C. purchased merchandise inventory for cash, $4,750
Cash
Beg. Bal.21,220.00
6,500.00
Bal.
Accounts Payable
9,900.00
6,500.00
Bal.
Inventory
9,900.00
Bal.
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