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SANCHEZ COMPUTER CENTER The following is an updated schedule of accounts payable as of January 31, 201X. Schedule of Accounts Payable Office Depot $ 50

SANCHEZ COMPUTER CENTER The following is an updated schedule of accounts payable as of January 31, 201X. Schedule of Accounts Payable Office Depot $ 50 System Design Furniture 1,400 Pac Bell 150 Multi Systems, Inc. 450 Total Accounts Payable $ 2,050 Tasks a. Journalize the transactions. b. Record in the accounts payable subsidiary ledger and post to the general ledger as appropriate. A partial general ledger is included in the working papers that accompany this text. c. The following accounts have been added to the chart of accounts: Purchases #6000, Purchase Returns and Allowances #6010, and Purchase Discounts #6020. d. Prepare a schedule of accounts payable as of February 28, 201X. The transactions for the month of February, 201X, are as follows: Feb. 1 Prepaid the rent for the months of February, March, and April, $1,200, check #2585. Feb. 4 Bought merchandise on account from Multi Systems, Inc., purchase order no. 4010, $450; terms 3/10, n/30. Feb. 8 Bought office supplies on account from Office Depot, purchase order no. 4011, $250; terms n/30. Feb. 9 Purchased merchandise on account from Computer Connection, purchase order no. 4012, $500; terms 1/30, n/60. Feb. 15 Paid purchase order no. 4010 in full to Multi Systems, Inc., check #2586. Feb. 21 Issued debit memorandum no. 10 to Computer Connection for merchandise returned from purchase order no. 4012, $100. Feb. 27 Paid for office supplies, $50, check #2587.

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