River’s Edge Canoe & Kayak is a retail merchandising business located in Jackson Hole, Wyoming. The beginning balances of the accounts needed to complete this problem are opened in your working papers. 

Instructions 

In your working papers: 

1. Record the transactions on page 19 of the cash payments journal.

2. Post the individual amounts in the Accounts Payable Credit column on a daily basis to the creditors’ accounts.

3. Post the individual amounts in the General Debit and Credit columns on the date the transaction occurred.

4. Foot, prove, total, and rule the cash payments journal.

5. Post the column totals at the end of the month.

6. Prepare a schedule of accounts payable.

7. Prove cash at the end of the month. The beginning Cash in Bank balance was $8,000; cash receipts were $7,000; and the ending check stub balance is $8,402.

Transcribed Image Text:

Date Transactions 1 Issued Check 1405 for $1,372 to North American Waterways Suppliers in payment on account of $1,400 invoice less a 2% discount. 3 Received insurance premium statement from Rocky Mountain Insurance Company. Issued Check 1406 for $1,800. CONTINUE July