Prepare the general ledger accounts and the accounts payable ledger accounts.

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Answer 1

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Chapter 8, Problem 3PA

1.

To determine

Prepare the general ledger accounts and the accounts payable ledger accounts.

2.

To determine

Record the general journal into the general ledger accounts and the accounts payable ledger accounts.

3.

To determine

Create a schedule of accounts payable and compare it with the accounts payable control account.

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The cash payments and purchases journals for Bill's Landscaping Co. are shown below. The accounts payable control account has an April 1, 2019, balance of $6,986, consisting of an amount owed to Augusta Sod Co. CASH PAYMENTS JOURNAL Page 38 Other Accounts Ck. Post. Accounts Payable Cash Date No. Account Debited Ref. Dr. Dr. Cr. 2019 Apr. 4 106 Augusta Sod Co. 107 Utilities Expense 6,986 6,986 Apr. 5 54 642 642 Apr. 15 108 Kimble Lumber Co. 3,644 3,644 2,872 13,502 Apr. 27 109 Schott's Fertilizer 2,872 Apr. 30 642 14,144 (V) (21) (11) PURCHASES JOURNAL Page 22 Landscaping Supplies Accounts Other Post. Payable Accounts Post. Date Account Debited Ref. Cr. Dr. Dr. Ref. Amount 2019 Apr. 3 Kimble Lumber Co. 3,644 3,644 7,807 Apr. 5 Apr. 14 Cooke Equipment Co. Equipment 18 7,807 Schott's Fertilizer 2,872 2,872 Apr. 24 Augusta Sod Co. 4,251 4,251 Apr. 29 Kimble Lumber Co. 9,091 9,091 Apr. 30 27,665 19,858 7,807 (21) (14) (V) Prepare the accounts payable subsidiary ledger, and determine that…

You are to enter the following items in the books, post to personal accounts, and show the transfers to the General Ledger. Balance all accounts. 2009 July 1 Credit purchases form: K Hill $380; M Norman $500; N Senior $106. 3 Credit sales to: E Rigby $510; E Phillips $246; F Thompson $356. 5 Credit purchases from: R Morton $200; J Cook $180; D Edwards $410; C Davies $66. 8 Credit sales to: A Green $307; H George $250; J Ferguson $185. 12 Returns outwards to: M Norman $30; N Senior $16. 14 Return inwards from: E Phillips $18; F Thompson $22. 20 Credit sales to: E Phillips $188; F Powell $310; E Lee $420. 24 Credit purchases from: C Ferguson $550; K Ennevor $900. 31 Return inwards from: E Phillips $27; E Rigby $30. 31 Return outwards to: J Cook $13; C Davies $11.

Johnson Hardware Supply, Inc., sells on account. When a customer account becomes four months old, Johnson Hardware Supply converts the account to a note receivable. During 2018, Johnson Hardware Supply completed these transactions: A (Click the icon to view the transactions.) Requirement 1. Record the transactions in Johnson Hardware Supply, Inc.'s journal. (Record debits first, then credits. Exclude explanations from any journal entries.) Record the sales on account. Journal Entry Date Accounts Debit Credit Apr 29 More Info Record the receipt of the note. 29 Sold goods on account to Parkview Corp., $24,000. Ignore cost of goods sold. 1 Received a $24,000, 60-day, 9% note from Parkview Corp., in satisfaction of its past-due account receivable. 31 Collected the Parkview Corp., note at maturity. Use 360-day year for interest computation and round to the nearest dollar. Journal Entry Apr Date Accounts Debit Credit Sep Sep Oct Record the collection of the Parkview Corp. note. Print Done…

Answer 2

Question

Chapter 8, Problem 3PA

1.

To determine

Prepare the general ledger accounts and the accounts payable ledger accounts.

2.

To determine

Record the general journal into the general ledger accounts and the accounts payable ledger accounts.

3.

To determine

Create a schedule of accounts payable and compare it with the accounts payable control account.

Expert Solution & Answer

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Answer 3

Question

Chapter 8, Problem 3PA

1.

To determine

Prepare the general ledger accounts and the accounts payable ledger accounts.

2.

To determine

Record the general journal into the general ledger accounts and the accounts payable ledger accounts.

3.

To determine

Create a schedule of accounts payable and compare it with the accounts payable control account.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 8, Problem 3PA

1.

To determine

Prepare the general ledger accounts and the accounts payable ledger accounts.

2.

To determine

Record the general journal into the general ledger accounts and the accounts payable ledger accounts.

3.

To determine

Create a schedule of accounts payable and compare it with the accounts payable control account.

Expert Solution & Answer

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Answer 5

Chapter 8, Problem 3PA

1.

To determine

Prepare the general ledger accounts and the accounts payable ledger accounts.

2.

To determine

Record the general journal into the general ledger accounts and the accounts payable ledger accounts.

3.

To determine

Create a schedule of accounts payable and compare it with the accounts payable control account.

Answer 6

Chapter 8, Problem 3PA

1.

To determine

Prepare the general ledger accounts and the accounts payable ledger accounts.

Answer 7

Chapter 8, Problem 3PA

1.

To determine

Prepare the general ledger accounts and the accounts payable ledger accounts.

Answer 8

2.

To determine

Record the general journal into the general ledger accounts and the accounts payable ledger accounts.

Answer 9

2.

To determine

Record the general journal into the general ledger accounts and the accounts payable ledger accounts.

Answer 10

3.

To determine

Create a schedule of accounts payable and compare it with the accounts payable control account.

Answer 11

3.

To determine

Create a schedule of accounts payable and compare it with the accounts payable control account.

Answer 12

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Answer 13

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Answer 14

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Answer 15

Ch. 8 - What is the name of the account used to record...Ch. 8 - What does FOB shipping point mean?Ch. 8 - Prob. 1.3SRQ Ch. 8 - Prob. 1.4SRE Ch. 8 - Prob. 1.5SRE Ch. 8 - Prob. 1.6SRA Ch. 8 - Prob. 2.1SRQ Ch. 8 - Prob. 2.2SRQ Ch. 8 - The total of the schedule of accounts payable...Ch. 8 - In the accounts payable ledger, a suppliers...

Prepare the general ledger accounts and the accounts payable ledger accounts.

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Prepare the general ledger accounts and the accounts payable ledger accounts.

Record the general journal into the general ledger accounts and the accounts payable ledger accounts.

Create a schedule of accounts payable and compare it with the accounts payable control account.

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