Problem 8.2A Posting to the accounts payable ledger and preparing a schedule of accounts payable. LO 8-4, 8-6 Digital World is a retail store that sells cameras and photography supplies. The firm's credit purchases and purchases returns and allowances transactions for June 2019 appear below, along with the general ledger accounts used to record these transactions. The balance shown in Accounts Payable is for the beginning of June. GENERAL LEDGER ACCOUNTS 205 Accounts Payable, $14,404 Cr. 501 Purchases 502 Freight In 503 Purchases Returns and Allowances DATE TRANSACTIONS June 1 Purchased instant cameras for $2,050 plus a freight charge of $230 from Pro Photo Equipment, Invoice 4241, dated May 27; the terms are 60 days net. 8 Purchased film for $1,394 from Photo Supplies, Invoice 1102, dated June 3, net payable in 45 days. Purchased lenses for $916 from Nano Glass, Invoice 7282, dated June 9; the terms are 1/10, n/60. 18 Received Credit Memorandum 110 for $400 from Pro Photo Equipment for defective cameras that were returned; they were originally purchased on Invoice 4241, dated May 27. 20 Purchased color film for $1,200 plus freight of $75 from Photo Supplies, Invoice 1148, dated June 15, net payable in 45 days. 23 Purchased camera cases for $1,956 from Hi-Oual Case. Invoice 3108, dated June 18, net due and payable in 45 days. 28 Purchased lens filters for $2,470 plus freight of $120 from Holtz Spectrum, Invoice 5027, dated June 24; the terms are 2/10, n/30. 30 Received Credit Memorandum 1108 for $310 from Hi-Qual Case; the amount is an allowance for damaged but usable goods purchased on Invoice 3108, dated June 18. Creditors Name Terms Photo Supplies n/45 Hi-Qual Case n/45 Pro Photo Equipment n/60 Nano Glass 1/10, n/60 Holtz Spectrum 2/10, n/30 Balance $ 10, 580 1,300 2,524 Required: 1. Set up an accounts payable subsidiary ledger for Digital World. Open an account for each of the creditors listed below and enter the balances as of June 1, 2019. Arrange the accounts payable ledger in alphabetical order. 2. Post the opening balances and transactions from the purchases journal and the general journal. 3. Prepare a schedule of accounts payable for June 30. 4. Check the total of the schedule of accounts payable against the balance of the Accounts Payable account in the general ledger. The two amounts should be equal. Analyze: What amount is owed to Nano Glass on June 30? Post the opening balances and transactions from the purchases journal and the general journal. Hi-Qual Case Date Debit June 01, 2019 Terms n/45 Credit Balance Holtz Spectrum Date Debit Terms 2/10, n/30 Credit Balance Nano Glass Date Debit June 01, 2019 Terms 110, n/60 Credit Balance Photo Supplies Date Debit June 01, 2019 Terms n/45 Credit Balance Pro Photo Equipment Date Debit Terms n/60 Credit Balance Record the transactions in a three-column purchases journal for June, 2019. PURCHASES JOURNAL Date Purchased From Invoice Number Date of Invoice Terms Accounts Payable Credit Purchases Debit Freight in Debit June 30 Totals 0 $ 0 $ What amount is owed to Nano Glass on June 30? Amount owed