attached.

Prepare an adjusting journal entry to correct account payable. Potter's maintains perpetual inventory records and the inventory was counted and adjusted on December.31 The list of vouchers payable for Potter's Magic Shoppe at December 31 as follows Vendor Hagrid cleaning Services Hermione's Hats Lockhart Magic Books Malfoy Financial Consultants McGonagall Veterinary Supplies Moaning Myrtle's Mystical capes Nicholas Fancy Headwear Snape's Snakes Weasley's Wands Hogwart's Rentals Total vouchers payable Invoice Date 11/15 12/02 12/31 12/28 12/23 Amount 4322.43 2167.76 6489.11 23752.63 4590.60 10/14 11529.88 12/29 12/28 12/28 12/15 51268.62 36152.45 6400.55 53000.00 199,674.03 Checks written in the following January are : Check Number 1842 1843 1844 1845 1846 1847 1848 1849 1850 1851 1852 1853 1854 1855 Payee Description Malfoy Financial Professional Consultants services Hagrid Cleaning Services October monthly cleaning Hogwart's Rentals January rent Lockhart Magic Books Inventory Dudley Pastries Catering for office Christmas party Weasley's wands Inventory Rowlin's Enterprises Trademark McGonagall Veterinary Inventory Supplies Nicholas Fancy Inventory Headwear Weasley's Wands Inventory Hermione's Hats Inventory Lockhart Magic Books Inventory Hagrid cleaning service November monthly cleaning Malfoy Finanical Professional Consultants services Invoice Date Amount 12/28 23752.63 11/15 4322.43 12/15 12/31 1/15 53000.00 6489.11 6300 12/28 1/1 12/23 6400.55 10,000 4590.60 12/29 51268.62 12/31 12/02 12/31 12/15 6400.55 2167.76 5932.89 4322.43 1/28 13888.56 1 Please advise me for the highlight portion because I am not sure if I need to adjust them for 12/31 2 please check my answer to see if they are correct Thank you. For Problem 8.52, you only need to complete part b., which is to create adjusting journal entries (AJE) to correct Accounts Payable, if adjustments are necessary. The best way to tackle this problem is to start with the first check (in the second table) and determine whether or not is should be accrued, i.e., included in A/P, at 12/31. Once you determine that, see if that amount is already accrued. If it should be accrued but is not, then you need to suggest an AJE. If it should not have been accrued but it is, then you need to suggest an AJE. Use Microsoft Excel or Word to create your AJEs, if any are required. Answer: A/P at Dec.31 Account Inv Amt Written Inv Amt date Checks in date Jan. 1 Moaning Myrtle's Mystical 12/28 $11529.8 N/A N/A N/A Capes 8 2 Nichola's Fancy Headwear 12/28 $51268.6 N/A N/A N/A 2 3 Snap's Snakes 12/28 $36152.4 N/A N/A N/A 5 4 Dudley Pasties Catering for office #1846 1/15 $6300 Christmas party 5 Rowlin's Enterprises Trademark #1848 1/1 $10000 6 Weasley's Wands Inventory 12/28 $6400.55 #1847 12/2 $6400.55 8 7 Weasley's Wands $6400.55 #1851 12/3 $6400.55 1 8 Lockhart Magic Books Inventory 12/31 $6489.89 #1853 12/3 $5932.89 1 9 Hagrid Cleaning Nov.monthly #1854 12/1 $4322.43 Service(Nov. Sev) cleaning 5 10 Malfoy Financial Professional #1855 1/28 $13888.56 Consultants services AJE's 1 Adjusted reason: unrecorded liabilities (1) Dr: Expense-Catering for office Christmas party CR: A/P -Dudley Pasties Inv date 1/15 (2) Dr: A/P-Dudley Pasties Inv date 1/15 CR: Note payable- check #1846 2 Adjusted reason: unrecorded liabilities (1) Dr: Expense- trademark CR: A/P-Rowlin's enterprises Inv. Date 1/1 (2) Dr: A/P-Rowlin's enterprises Inv. Date 1/1 CR: Note payable-check #1848 3 Adjusted reason: duplicate payment (1) Dr: Note payable- Check #1851 CR: A/P- Weasley's Wands Inv. date 12/31 (2) Dr: A/P- Weasley's Wands Inv. Date 12/31 CR: Inventory 4 Adjusted reason: unrecorded liabilities (1) Dr: Inventory CR: A/P- Lockhart Magic Books Inv.date 12/31 (2) Dr: A/P-Lockhart-Magic Books Inv. Date 12/31 CR: Note payable check#1853 5 Adjusted reason: unrecorded liabilities (1) Dr: Expense- Nov. monthly cleaning CR: A/P- Hagrid Cleaning Inv. Date 12/15 (2) Dr: A/P- Hagrid Cleaning Inv. Date 12/15 CR: Note payable check#1854 6 Adjusted reason: unrecorded liabilities $6300 $6300 $6300 $6300 $10000 $10000 $10000 $10000 $6400.55 $6400.55 $6400.55 $6400.55 $6489.89 $6389.89 $5932.89 $5932.89 $4322.43 $4322.43 $4322.43 $4322.43 (1) Dr: expense- Professional services (2) CR: A/P- Malfoy Financial Consultants Inv. Date 1/28 Dr: A/P-Malfoy Financial Consultants Inv. Date 1/28 CR: Note payable check#1855 $ 13888.56 $13888.56 $13888.56 $13888.56