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Problem 8.3A (Algo) Posting purchases and cash payment transactions. LO 8-3, 8-4, 8-5 Big Country Ski Shop is a retail store that sells ski

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Problem 8.3A (Algo) Posting purchases and cash payment transactions. LO 8-3, 8-4, 8-5 Big Country Ski Shop is a retail store that sells ski equipment and clothing. Big Country Ski Shop commenced business on September 1, 20X1. The firm purchases merchandise on open account. The firm's purchases, purchase returns and allowances, and cash payments on account during September 20X1 follow: DATE TRANSACTIONS 20X1 Sept. 2 Purchased ski boots for $5,100 plus a freight charge of $260 from Colorado Ski Shop, Invoice 6672, terms n/30. 3 Purchased skis for $10,700 from Alaska Supply Company, Invoice 5916; terms 1/10, n/30. 7 Received Credit Memorandum 165 for $850 from Colorado Ski Shop for return of damaged ski boots; the boots were. originally purchased September 2 on Invoice 6672. 11 Purchased ski jackets for $3,500 from Cold Mountain Clothing Company, Invoice 4091, terms n/30. 12 Issued Check 104 to Alaska Supply Company in payment of Invoice 5916, dated September 3, less the cashi discount. 22 Purchased ski poles for $3,260 plus a freight charge of $195 from Alaska Supply Company, Invoice 5950; terms 3/10, n/30. 23 Purchased ski pants for $1,750 from Swenson Ski Goods, Invoice 528, terms n/30. 25 Received Credit Memorandum 245 for $250 from Swenson Ski Goods for return of defective ski pants; the pants were originally purchased September 23 on Invoice 528. 27 Purchased ski sweaters for $4,100 plus a freight charge of $175 from Colorado Ski Shop, Invoice 6722, terms n/30. 30 Issued Check 110 to Colorado Ski Shop in payment of Invoice 6672, dated September 2, less the return of September 7. Required: 2a. Post the transactions to the appropriate accounts in the general ledger. 2b. Post the transactions to the appropriate accounts in the accounts payable ledger. 3. Prepare a schedule of accounts payable. GENERAL LEDGER ACCOUNTS Required: 2a. Post the transactions to the appropriate accounts in the general ledger. 2b. Post the transactions to the appropriate accounts in the accounts payable ledger. 3. Prepare a schedule of accounts payable. GENERAL LEDGER ACCOUNTS 101 Cash, $25,000 Dr. 201 Accounts Payable 501 Purchases 502 Freight In 503 Purchases Returns and Allowances 504 Purchases Discounts ACCOUNTS PAYABLE LEDGER ACCOUNTS Alaska Supply Company Cold Mountain Clothing Company Colorado Ski Shop Swenson Ski Goods Analyze: What portion of the purchases in September, before purchases returns and allowances and before purchases discounts, were for clothing items? Include ski boots as a clothing item. Complete this question by entering your answers in the tabs below. General Ledgers AP Ledgers Schedule of AP Drenare chr Analyze Date Debit eBook Sept 1, 20X1 Print ferences Date Purchases Account No: 101 Credit Accounts Payable Account No: 201 Balance Date Debit Credit Balance Account No: 501 Freight In Debit Credit Balance Date Debit Credit Account No: 502 Balance Book int Post the transactions to the appropriate accounts in the accounts payable ledger. Alaska Supply Company Date Terms: 3/10, n/30 Debit Credit Balance Cold Mountain Clothing Company Date Terms: n/30 Debit Credit Balance Colorado Ski Shop rences Date Terms: n/30 Swenson Ski Goods Terms: n/30 Debit Credit Balance Date Debit Credit Balance eBook General Ledgers AP Ledgers Schedule of AP Analyze Print References Prepare a schedule of accounts payable. BIG COUNTRY SKI SHOP Schedule of Accounts Payable September 30, 20X1 Alaska Supply Company Cold Mountain Clothing Company Colorado Ski Shop Swenson Ski Goods Total $ 0 < AP Ledgers Analyze > References General Ledgers AP Ledgers Schedule of AP Analyze What portion of the purchases in September, before purchases returns and allowan for clothing items? Include ski boots as a clothing item. Portion of clothing items purchased < Schedule of AP Analyze

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