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Put-A-Wrench-In-It sells hand tools. During the month of May 2019, the following transactions occurred. Asume tera opening balances for the subledger and generatumal accounts. Assume
Put-A-Wrench-In-It sells hand tools. During the month of May 2019, the following transactions occurred. Asume tera opening balances for the subledger and generatumal accounts. Assume no entries were made directly to the accounts payable general ledger from the general journal May 3 Purchased inventory for $7,440 on account from Block and Deck May 6 Paid salaries for $2,500 with cheque 1606. May 11 Purchased inventory for $4,830 cash from Chester Inc with cheque #607. May 13 Paid the full amount owing to Block and Deck from the May 3 transaction with cheque #608 May 25 Purchased inventory for $7,470 on account from Dust Bolt Inc. Required a) Record the above transactions in the purchases journal and the cash payments journal. b) Post the appropriate transactions from the joumals to the subledger accounts c) At the end of the month, total the journals and update the accounts payable control account Do not enter dollar signs or commas in the input boxes Purchases Journal Invoice Merchandise Inventory (DR Office Supplies (DR Page 6 Account Payable (CRO Other (DR Date Account S $ $ 5 May 3 Block and Deck s 5 $ $ May 25 Dust Bolt Inc 5 $ S $ May 31 Total Ba Date Cash Payments Journal Accounts Payable (DR) Other (DR) Account Cheque Merchandise Inventory (DR) Page 4 Cash (CRO May 6 Salaries Expense May 11 Chester Inc 5 May 13 Block and Deck 5 IS May 31 Total $ 15 5 Account: Accounts Payable Date Description GL No. 200 Balance DR CR May 31 Adjustment from purchases S IS $ $ $ May 31 Adjustment from cash payments Account Block and Deck Date DR CR Balance S May 3/5 S May 13 5 Account: Dust Bolt Inc Date DR CR Balance 15 : May 25/5
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