Question: The following is an updated schedule of accounts payable as

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
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:
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.

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