Problem $8\mathrm{.}5$A $($Algo$)$ Posting purchases and cash payment transactlons. LO $8-3,8-4,8-5$

Innovative Medical Devices is a medical devices wholesaler that commenced business on June $1,20$X$1.$ The company purchases merchandise for cash and on open account In June $20$X$1,$ Innovative Medical Devices engaged in the following purchasing and cash payment activitles:

DATE TRANSACTIONS

June $1,201$ Issued Check $101$ to purchase merchandise, $$3,100.$

June $3,261$ Purchased Eerchandise for $$1,900$ fron BloMaps Incorporated, Involce $666$ ; teras $\frac{1}{10},\frac{4}{30},$

June $5,20$X$1$ Purchased nerchandise for $$4,450,$ plus a freight charge of $$120,$ from New Concepts Corporation, Involce $1011$; terms $\frac{2}{10.}\frac{n}{30}.$

June $9,201$ Pald antount due to Blomaps Incorporated for purchase of June $3,$ less discount, Check $102.$

June $10,261$ Recelved Credit Memorandun $227$ from New Concepts Corporation for danaged merchandise totaling $$250$ that was returned; the goods were purchased on Invoice $1011,$ dated Jurie $5.$

June $11,281$ Purchased merchandise for $$1,540$ from B$$omaps Incorporated, Involce $612$; teras $\frac{2}{10},\frac{2}{30}.$

June $14,201$ Pald anount due to New Concepts Corporation for Involce $1011$ of June $5,$ less the return of June $10$ and less the cash discount, Check $103.$

June $15,20$x$1$ Purchased merchandise with a list price of $$7,800$ and trade discounts of $25$ and $20$ percent frcen Pang Research, Involice $1029,$ terms $\frac{n}{30}.$

June $20,20$xi Issued Check $104$ to purchase merchandise, $$1,600.$

June $25,201$ Returned merchandise purchased on June $20$ as defective, recelving a cash refund of $$220.$

June $30,201$ Purchased merchandise for $$1,800,$ plus a treight charge of $$71,$ fron New concepts corporation, Involce $1080$; terms $\frac{2}{10},\frac{n}{30}.$

Required:

$2$a$.$ Post the transactions to the approprlate accounts in the general ledger.

$2b.$ Post the transactions to the approprlate accounts in the accounts payable ledger.

$3.$ Prepare a schedule of accounts payable at June $30,201.$

GENERAL LEDGER ACCOUNTS

$101$ Cash, $$36,000$ Debit

$201$ Accounts Payable

$501$ Purchases

$502$ Purchases Returns and Allowances

$503$ Purchases Discaunts

$504$ Frelght In

ACCOUNTS PAYABLE LEDGER ACCOUNTS

BioMaps Incorporated

New Concepts Corporation

Pang Research

Analyze:

What was the amount of merchandise returned to vendors by Innovative Medical Devices in June?