E7-18, and E7-22 purchases journal.2. Open four-column ledger accounts for Merchandise Inventory (118), Office Sup-plies (120), Equipment (150), and Accounts Payable (211). Post to these accountsfrom the purchases journal. Use dates and posting references in the accounts.3. Open four-column accounts in the accounts payable subsidiary ledger for FallonEquipment, Jell Supply, and Leap Tech. Post from the purchases journal. Use datesand posting references in the ledger accounts.4. Balance the Accounts Payable control account in the general ledger with the totalof the ending balances in the accounts payable subsidiary ledger.Learning Objective 3E7-22 Identifying transactions in the accounts payable subsidiary ledgerA vendor account in the accounts payable subsidiary ledger of Frost Company follows.LARRY CARPENTERBalanceDatePost. Ref.DebitCreditDebitCreditDec.1,80012P.42,3404,14020J.102003,94029CP.61,5002,440prngren's Accounting, Volume 1, Third Custom Edition for Borough of Manhattan Community College of CUNY by Tracie L. Miller-Nobles, Brenda L. Mattison, and Ella Maeatsumura. Copvriaht © 2018 bv Pearson Education. Inc. All Riahts Reserved. Pearson Custom Edition.DII&56784YUERKH Check mark () for a posting to a customer account in the accounts receivablesubsidiary ledger.Account number for a posting to an account in the general ledger. If so, give theaccount number,Letter (X) for an amount not posted.E7-18 Identifying transactions in the accounts receivable subsidiary ledgerLearning Objective 2A customer account in the accounts receivable subsidiary ledger of Leger OldCompany follows:JOSH WILLOWBalanceDate Post. Ref.DebitCreditDebitCreditNov. 1400S.51,1801,58018J.81901,39030CR.9700690Describe the three posted transactions.Learning Objective 3E7-19 Recording transactions-purchases journalPurchased merchandise inventory on credit terms of 3/10, n/60 fromVanderbilt Co., $2,400.Accounts Payable CR columntotal $4,800Apr. 2Issued check no. 820 to purchase equipment for cash, $3,600.11Purchased merchandise inventory for cash, $750, issuing check no. 821.12Issued check no. 822 to pay Vanderbilt Co. net amount owed from Apr. 2.19Purchased office supplies on account from Downing Supplies, $500. Termswere n/EOM.24Purchased merchandise inventory on credit terms of net 30 fromWilmington Sales, $1,900.debiting Prepaid

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2. Open four-column ledger accounts for plies (120), Equipment (150), and Accon from the purchases journal. Use dates an 3. Open four-column accounts in the acco Equipment, Jell Supply, and Leap Tech. and posting references in the ledger accc 4. Balance the Accounts Payable control ac of th

2. Open four-column ledger accounts for plies (120), Equipment (150), and Accon from the purchases journal. Use dates an 3. Open four-column accounts in the acco Equipment, Jell Supply, and Leap Tech. and posting references in the ledger accc 4. Balance the Accounts Payable control ac of th

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter5: Accounting Systems

Section: Chapter Questions

Problem 2PA: Transactions related to revenue and cash receipts completed by Crowne Business Services Co. during...

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