From exercise E11-7A, prepare a schedule of accounts payable, and verify that the total of the schedule
Question:
From exercise E11-7A, prepare a schedule of accounts payable, and verify that the total of the schedule equals the amount in the controlling account.
Data From Exercise E11-7A.
Journalize, record, and post when appropriate the following transactions into the cash payments journal (page 2) for Morgan’s Clothing. Use the same headings as found in the text for Art’s Clothing Company (page 306 of Chapter 7). All purchases discounts are 2/10, n/30, and the amounts shown include GST at 5%.
2019 Apr. 2 Issued cheque No. 20 to A. James Company in payment of its March 29 invoice No. 522.
9 Issued cheque No. 21 to Flott Advertising in payment of its advertising bill, $100, plus GST at 5%, no discount.
16 Issued cheque No. 22 to B. Foss in payment of its March 26 invoice No. 488.
Step by Step Answer:
College Accounting A Practical Approach
ISBN: 978-0134166698
13th Canadian edition
Authors: Jeffrey Slater, Debra Good