As of 30 April 2011, PLR Corporation€™s accounts payable subsidiary ledger included the following information:

PLR completed the following transactions in May 2011:
Date Transaction
1...... Paid half the amount due to HRP Corp.
3......Purchased inventory on account form VLD Corp., $1,220.
6......Paid the amount due to RGN Corp.
12......Purchased inventory on account form HRP Corp., $3,555
14......Paid the total amount due to HRP Corp.
18......Purchased supplies on account from QOC Corp., $600. Terms: 2/10, n/30.
21...Issued a check to VLD Corp. in payment of Invoice 432, including the applicable discount.
24......Purchased inventory on account form RGN Corp., $1,500.
25......Paid the total amount due to RGN Corp.
27....Purchased factory equipment, $20,000. Paid 20% down and financed the rest with a 6-month, 12% note payable.
a. Record the May transactions in general journal format.
b. Prepare a schedule of accounts payable as of 31 May 2011.
c. Beyond the information in the journal entries, what information about the transactions would you include in a relational database?

Transcribed Image Text:

Vendor HRP Corp. VLD Corp. RGN Corp. Invoice Number Invoice Date Invoice Amount Terms 1398 432 848 15 April 2011 10 April 2011 21 April 2011 $12,890 5,780 4,500 n/30 2/10, n/30 1/15, n/45