Problem 7-2A (Part Level Submission) Reineke Company's chart of accounts includes the following selected accounts 101 Cash 201 Accounts Payable 120 Inventory 306 Owner's Drawings 130 Prepaid Insurance 505 Cost of Goods Sold 157 Equipment On October 1, the accounts payable ledger of Reineke Company showed the following balances: Uggla Company $2,900, Orr Co. $2,700, Rosenthal Co. $1,700, and Clevenger Company $3,900. The October transactions involving the payment of cash were as follows. Oct. 1 Purchased merchandise, check no. 63, $340. 3 Purchased equipment, check no. 64, S900. 5 Paid Uggla Company balance due of $2,900, less 2% discount, check no. 65, $2,842. 10 Purchased merchandise, check no. 66, S2,600. 15 Paid Rosenthal Co. balance due of $1,700, check no. 67. 16 C. Reineke, the owner, pays his personal insurance premium of $350, check no. 68. 19 Paid Orr Co. in full for invoice no. 610, $2,150 less 2% cash discount, check no. 69, $2,107. 29 Paid Clevenger Company in full for invoice no. 264, $2,300, check no. 70. (a) Your answer is correct. Joumalize the transactions above in a four-column cash payments journal with columns for Other Accounts Dr., Accounts Payable Dr., Inventory Cr., and Cash Cr. Foot and cross-foot the joumal. (Record entries in the order displayed in the problem statement. Round answers to decimal places, e.g. 5,275.) Cash Payments Journal CP Date Ck. No. Account Debited Ref. Other Accounts Dr. Accounts Payable Dr. Inventory Cr. Cash Cr. Oct. 1 63 Inventory . 120 340 340 Oct 3 64 Equipment | 157 900 900 Oct. 5 65 Uggla Company 2900 58 2842 Oct 10 Inventory 120 2600 2600 Oct. 15 : Rosenthal Co. 67 V 1700 1700 Oct. 16 68 Owner's Drawing 306 350 350 Oct 19 69 Orr Co. 2150 43 2107 Oct 29 70 Clevenger Company 2300 2300 4190 9050 101 13139 (X) (201) (120) (101) (b) Insert the beginning balances in the Accounts Payable control and subsidiary accounts, and post the October transactions to these accounts. (Post entries in the order of entries presented in the previous part.) , .) General Ledger Accounts Payable Date Explanation Ref. Debit Credit Balance Oct. 1 Balance Oct 31 : CP1 Accounts Payable Subsidiary Ledger Uggla Company Date Explanation Ref. Debit Credit Balance Oct. 1 Balance V Oct. 5 CP1 Orr Co. Date Explanation Ref. Debit Credit Balance Oct. 1 Balance V Oct. 19 CP1 Rosenthal Co. Date Explanation Ref. Debit Credit Balance Oct. 1 Balance Oct 15 CP1 Clevenger Company Date Explanation Ref. Debit Credit Balance Oct. 1 Balance Oct 29 CP1