1. Set up an accounts payable subsidiary ledger for The Old English Garden Shop. Open an...
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1. Set up an accounts payable subsidiary ledger for The Old English Garden Shop. Open an account for each of the creditors listed below and enter the balances as of July 1. 2. Post the individual entries from the purchases journal and the general journal prepared in Part i. Prepare a schedule of accounts payable for July 31, 20X1. 4. Check the total of the schedule of accounts payable against the balance of the Accounts Payable account in the general ledger. The two amounts should be equal. Creditors Name Cedarbrook Garden Center Charleston Corporation Dunn Rubber Conpany Lawn and Gardens Supply Warren Industrial Products Terms Balance n/45 n/60 1/15, n/60 n/30 2/10, n/30 $ 11,220 18,220 6,540 Analyze: What total freight charges were posted to the general ledger for the month of July? Complete this question by entering your answers in the tabs below. Ledgers Schedule of AP Analyze What total freight charges were posted to the general ledger for the month of July? Freight charges Ledgers Schedule of AP Analyze Prepare a schedule of accounts payable for July 31, 20X1. THE OLD ENGLISH GARDEN SHOP Schedule of Accounts Payable July 31, 20X1 Total Enter the opening balances as on July 1 and the above transactions on the accounts payable subsidiary ledger for The Old English Garden Shop. Cedarbrook Garden Center Terms n/45 Charleston Corporation Terms n/60 Date Debit Credit Balance Date Debit Credit Balance July 1, 20X1 July 1, 20X1 Dunn Rubber Company Terms 1/15, n/60 Lawn and Gardens Supply Terms n/30 Date Debit Credit Balance Date Debit Credit Balance July 1, 20X1 Warren Industrial Products Terms 2/10, n30 Date Debit Credit Balance 1. Set up an accounts payable subsidiary ledger for The Old English Garden Shop. Open an account for each of the creditors listed below and enter the balances as of July 1. 2. Post the individual entries from the purchases journal and the general journal prepared in Part i. Prepare a schedule of accounts payable for July 31, 20X1. 4. Check the total of the schedule of accounts payable against the balance of the Accounts Payable account in the general ledger. The two amounts should be equal. Creditors Name Cedarbrook Garden Center Charleston Corporation Dunn Rubber Conpany Lawn and Gardens Supply Warren Industrial Products Terms Balance n/45 n/60 1/15, n/60 n/30 2/10, n/30 $ 11,220 18,220 6,540 Analyze: What total freight charges were posted to the general ledger for the month of July? Complete this question by entering your answers in the tabs below. Ledgers Schedule of AP Analyze What total freight charges were posted to the general ledger for the month of July? Freight charges Ledgers Schedule of AP Analyze Prepare a schedule of accounts payable for July 31, 20X1. THE OLD ENGLISH GARDEN SHOP Schedule of Accounts Payable July 31, 20X1 Total Enter the opening balances as on July 1 and the above transactions on the accounts payable subsidiary ledger for The Old English Garden Shop. Cedarbrook Garden Center Terms n/45 Charleston Corporation Terms n/60 Date Debit Credit Balance Date Debit Credit Balance July 1, 20X1 July 1, 20X1 Dunn Rubber Company Terms 1/15, n/60 Lawn and Gardens Supply Terms n/30 Date Debit Credit Balance Date Debit Credit Balance July 1, 20X1 Warren Industrial Products Terms 2/10, n30 Date Debit Credit Balance
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Related Book For
College Accounting Chapters 1-30
ISBN: 978-0077862398
14th edition
Authors: John Price, M. David Haddock, Michael Farina
Posted Date:
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