Alex Yeoman Painting Co. of Yellowknife uses a purchases journal (page 21) and a general journal (page
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Alex Yeoman Painting Co. of Yellowknife uses a purchases journal (page 21) and a general journal (page 32) to record the following transactions. The GST rate is 5%.
The paint store has decided to keep a separate column for the purchases of supplies in the purchases journal and also has a separate column for GST. The account balances as of August 1, 2021, are as follows:
Required
a. Journalize the transactions.
b. Post and record as appropriate.
c. Prepare a schedule of accounts payable as of August 31, 2021.
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Related Book For
College Accounting A Practical Approach
ISBN: 9780135222416
14th Canadian Edition
Authors: Jeffrey Slater, Debra Good
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