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College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756

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Chapter
Section
BuyFindarrow_forward

College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756
Textbook Problem

What steps are followed in posting purchases from the general journal to the accounts payable ledger?

To determine

Indicate the steps followed in posting the purchases from general journal to the accounts payable ledger.

Explanation

Purchases: The amount of cost of merchandise bought during a certain period is referred to as cost of purchases.

Posting purchases from general journal to the accounts payable ledger:

Step 1: Enter the date of the transaction in the Date column.

Step 2: Enter the debit amount and the credit amount in the Debit and Credit columns respectively...

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