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

Assignment

1. Journalize the transactions.

2. 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.

3. The following accounts have been added to the chart of accounts: Purchases #6000, Purchase Returns and Allowances #6010, and Purchase Discounts #6020.

4. Prepare a schedule of accounts payable as of February 28, 201X.

The transactions for the month of February are as follows:

201X

Feb. 1 Prepaid the rent for the months of February, March, and April, $1,200, check #2585.

4 Bought merchandise on account from Multi Systems, Inc., purchase order no. 4010, $450; terms 3/10, n/30.

8 Bought office supplies on account from Office Depot, purchase order no. 4011, $250; terms n/30.

9 Purchased merchandise on account from Computer Connection, purchase order no. 4012, $500; terms 1/30, n/60.

15 Paid purchase order no. 4010 in full to Multi Systems, Inc., check #2586.

21 Issued debit memorandum no. 10 to Computer Connection for merchandise returned from purchase order no. 4012, $100.

27 Paid for office supplies, $50, check #2587.