Following is information from Jesper Company for its first month of business. Credit Purchases Jan. 9 Bailey Company 18 Johnson Brothers 22 Preston Company Cash Paid $17,200 Jan. 19 Bailey Company 27 Johnson Brothers 31 Preston Company Required 1 Required 2 8,200 9,400 1. Post the above transactions in the accounts payable subsidiary ledger. 2. Post the accounts payable balance in the general ledger at month's end. Complete this question by entering your answers in the tabs below. Date Post the accounts payable balance in the general ledger at month's end. GENERAL LEDGER Accounts Payable Debit $11,700 8, 200 7,000 Credit Balance

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The following information was taken from the books of Olmeck, Inc.   Year 2 Year 1 Sales $956,000 $992,000 Accounts receivable:        Beginning of the year 120,500 136,400    End of the year 110,000 120,500   a.  Determine the accounts receivable turnover for Year 2 and Year 1. Round your answers to one decimal place.   Accounts ReceivableTurnover Year 2 fill in the blank 1 Year 1 fill in the blank 2 b.  Determine the number of days’ sales in receivables for Year 2 and Year 1. Round your answers to one decimal place. Assume 365 days per year.   Number of Days' Salesin Receivables Year 2 fill in the blank 3 days Year 1 fill in the blank 4 days c.  The industry average for the accounts receivable turnover is 8.0. How does Olmeck, Inc. compare? In Year 2 Olmeck was    the industry average. In Year 1, Olmeck was     the industry average.

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Here is Deon's credit card statement for the month of November. Date Transaction November 1 November 7 November 19 November 26 Payment Beginning balance Payment Purchase Date (a) Use the credit card statement to help fill in the table below. Note that there are 30 days in November. Also, a purchase increases the unpaid balance, and a payment decreases the unpaid balance. Transaction amount $2900.06 $540.00 $35.45 $700.00 Transaction November 1 Beginning balance November 7 Payment November 19 Purchase November 26 Payment Transaction amount Unpaid balance Number of days at that balance $2900.06 $2900.06 6 days (from November 1 through November 6) $540.00 $2360.06 $35.45 $700.00 days (from November 7 through November 18) $7 days (from November 19 through November 25) $5 days (from November 26 through November 30) Total: 30 days Unpaid Number balance of days X $17,400.36 $ $ $ Total: $

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Vail Company recorded the following transactions during November. Date General Journal Debit Credit November 5 Accounts Receivable-Ski Shop 4,948 Sales 4,948 November 10 Accounts Receivable-Welcome Incorporated Sales 1,758 1,758 November 13 Accounts Receivable-Zia Company Sales 1,031 1,031 November 21 Sales Returns and Allowances 266 Accounts Receivable-Zia Company 266 November 30 Accounts Receivable-Ski Shop 3,665 Sales 3,665 1. Post these entries to both the general ledger accounts and the accounts receivable ledger subsidiary ledger accounts. 2. Prepare a schedule of accounts receivable. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Post these entries to both the general ledger accounts and the accounts receivable ledger subsidiary ledger accounts. General Ledger Accounts Receivable Ending Balance 0 0 Sales Ending Balance Sales Returns and Allowances Ending Balance 0 Accounts Receivable Subsidiary Ledger Ski Shop Ending Balance 0 0 Zia…

Journalize the transactions shown below in the two-column general journal that follows. Calculate HST (13%) on all sales transactions. | Oct. 2 Cash Sales Slip No. 102 to S. Stewart, $102.50 plus taxes. 6 Sales Invoice No. 617 to Jack Morrison, $250.90 plus taxes. Cheque Copy 10 No. 910 to Industrial Suppliers, $500 on account. Cash Receipt From Jack Mahoney, $322.50 on account. 12 18 Purchase Invoice From Grand's Stationers, S60.50 for office supplies taxes. 20 Cheque Copy No. 911 to Jack Whitcombe, $525 for personal use. 24 Bank Debit Memo $31.90 for bank service charge. Cash Sales Slip No. 103 to J. Beck, $450 plus taxes. 31

On January 12th, Gates Gems returned merchandise they received on account from Gem Warehouse in the amount of $800. What is the journal entry to record this transaction? Debit Accounts Payable/Gem Warehouse, $800; credit Purchases Returns and Allowances, $800 Debit Accounts Receivable/Gem Warehouse, $800; credit Purchases, $800 Debit Purchases, $800; credit Accounts Payable/Gem Warehouse, $800 Debit Accounts Receivable/Gem Warehouse, $800; credit Purchases Returns and Allowances $800