Take me to the textYardWorks sells landscaping materials. During the month of July 2019, the following transactions occurred. Assume zero balances for the subledger and general ledger accounts. Assume no entries were made directly to the accounts payable general ledger from the general journal.Jul 5Purchased office supplies for $640 on account from Office Supply Shop.Jul 10Purchased inventory for $1,140 cash from Rock-N-Roll with Cheque #408.Jul 12Paid telephone bill for $340 cash with Cheque #409.Jul 17Paid the amount owing to Office Supply Shop with Cheque #410.Jul 27Purchased inventory for $3,570 from Pathway Stones on account.Requireda) Record the above transactions in the purchases journal and the cash payments journal.b) Post the appropriate transactions from the journals to the subledger accounts.c) At the end of the month, total the journals and update the accounts payable control account.Do not enter dollar signs or commas in the input boxes.Purchases JournalPage 6DateAccountInvoiceMerchandise Inventory (DR)Office Supplies (DR)Other (DR)Accounts Payable (CR)Jul 5Office Supply Shop $Answer$Answer$Answer$AnswerJul 27Pathway Stones $Answer$Answer$Answer$AnswerJul 31Total $Answer$Answer$Answer$Answer Cash Payments JournalPage 4DateAccountCheque #Accounts Payable (DR)Other (DR)Merchandise Inventory (DR)Cash (CR)Jul 10Rock-N-RollAnswer$Answer$Answer$Answer$AnswerJul 12Telephone ExpenseAnswer$Answer$Answer$Answer$AnswerJul 17Office Supply ShopAnswer$Answer$Answer$Answer$AnswerJul 31Total $Answer$Answer$Answer$Answer Account: Accounts PayableGL No. 200DateDescriptionDRCRBalanceJul 31Adjustment from purchases$Answer$Answer$AnswerAnswerDRCRJul 31Adjustment from cash payments$Answer$Answer$AnswerAnswerDRCR Account: Office Supply ShopDateDRCRBalanceJul 5$Answer$Answer$AnswerAnswerDRCRJul 17$Answer$Answer$AnswerAnswerDRCR Account: Pathway StonesDateDRCRBalanceJul 27$Answer$Answer$AnswerAnswerDRCR

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Asked Feb 8, 2020
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Take me to the text

YardWorks sells landscaping materials. During the month of July 2019, the following transactions occurred. Assume zero balances for the subledger and general ledger accounts. Assume no entries were made directly to the accounts payable general ledger from the general journal.

Jul 5 Purchased office supplies for $640 on account from Office Supply Shop.
Jul 10 Purchased inventory for $1,140 cash from Rock-N-Roll with Cheque #408.
Jul 12 Paid telephone bill for $340 cash with Cheque #409.
Jul 17 Paid the amount owing to Office Supply Shop with Cheque #410.
Jul 27 Purchased inventory for $3,570 from Pathway Stones on account.



Required
a) Record the above transactions in the purchases journal and the cash payments journal.
b) Post the appropriate transactions from the journals to the subledger accounts.
c) At the end of the month, total the journals and update the accounts payable control account.

Do not enter dollar signs or commas in the input boxes.

Purchases Journal Page 6
Date Account Invoice Merchandise Inventory (DR) Office Supplies (DR) Other (DR) Accounts Payable (CR)
Jul 5 Office Supply Shop   $Answer $Answer $Answer $Answer
Jul 27 Pathway Stones   $Answer $Answer $Answer $Answer
Jul 31 Total   $Answer $Answer $Answer $Answer

 

Cash Payments Journal Page 4
Date Account Cheque # Accounts Payable (DR) Other (DR) Merchandise Inventory (DR) Cash (CR)
Jul 10 Rock-N-Roll Answer $Answer $Answer $Answer $Answer
Jul 12 Telephone Expense Answer $Answer $Answer $Answer $Answer
Jul 17 Office Supply Shop Answer $Answer $Answer $Answer $Answer
Jul 31 Total   $Answer $Answer $Answer $Answer

 

Account: Accounts Payable GL No. 200
Date Description DR CR Balance
Jul 31 Adjustment from purchases $Answer $Answer $Answer AnswerDRCR
Jul 31 Adjustment from cash payments $Answer $Answer $Answer AnswerDRCR

 

Account: Office Supply Shop
Date DR CR Balance
Jul 5 $Answer $Answer $Answer AnswerDRCR
Jul 17 $Answer $Answer $Answer AnswerDRCR

 

Account: Pathway Stones
Date DR CR Balance
Jul 27 $Answer $Answer $Answer AnswerDRCR
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Expert Answer

Step 1

a) Purchase journal and cash payment journal is prepared as follows:

 

Accounting homework question answer, step 1, image 1

Step 2

Resulting values are as follows:

 

Accounting homework question answer, step 2, image 1

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