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Wendy Ellis operates a wholesale computer center and has hired you as her bookkeeper to record the following transactions. She would like you to (1)
Wendy Ellis operates a wholesale computer center and has hired you as her bookkeeper to record the following transactions. She would like you to (1) journalize the following transactions, (2) record to the accounts payable subsidiary ledger and post to the general ledger as appropriate, and (3) prepare a schedule of accounts payable. The beginning account balances follow: Andrews Co., $1,400; Howard Co., $1,600; Shallot Co., $800; Xon Co., $2,600; Cash, $17,000; Accounts Payable, $6,400; Merchandise Inventory, $7,500. Use the perpetual method. (Assume all purchases of computers by Wendy Ellis are for purchases of inventory to be later sold for profit.) 1. Journalize the transactions. (Record debits first, then credits. Exclude explanations from journal entries.) March 1: Paid half the amount owed Howard Co. from previous purchases of computers on account, less an 8% purchases discount, check no. 21. Journal Entry Choose from any list or enter any number in the input fields and then click Check Answer. 201X March 1 Paid half the amount owed Howard Co. from previous purchases of computers on account, less an 8% purchases discount, check no. 21. 3 Bought a delivery truck for $7,000 cash, check no. 22, payable to Bill Klecan Co. 6 Bought computer merchandise from Lossy Co., check no. 23, $2,800. 18 Bought additional computer merchandise from Pulse Co., check no. 24, $550. 24 Paid Xon Co. the amount owed for computer merchandise, less a 8% purchases discount, check no. 25. Tess an 0% purchases discount, CHECK 10. ZT. 3 Bought a delivery truck for $7,000 cash, check no. 22, payable to Bill Klecan Co. 6 Bought computer merchandise from Lossy Co., check no. 23, $2,800. 18 Bought additional computer merchandise from Pulse Co., check no. 24, $550. 24 Paid Xon Co. the amount owed for computer merchandise, less a 8% purchases discount, check no. 25. 28 Paid rent expense to Prince's Realty Trust, check no. 26, $1,800. 29 Paid utilities expense to Lime Utility Co., check no. 27, $260. 30 Paid half the amount owed Shallot Co., no discount, check no. 28
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