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Assessment

Based on the information provided, the ending balance in the Accounts Payable account in the general ledger is $1,700. The Accounts Payable column in the cash disbursements journal shows total debits of $6,800 for November. The Accounts Payable credit column in the purchases journal shows total credits of $10,500 for the current month. Subtracting the debits from the credits gives an ending balance of $10,500 - $6,800 = $1,700.

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Charlene Gonzales
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52 views

Assessment

Based on the information provided, the ending balance in the Accounts Payable account in the general ledger is $1,700. The Accounts Payable column in the cash disbursements journal shows total debits of $6,800 for November. The Accounts Payable credit column in the purchases journal shows total credits of $10,500 for the current month. Subtracting the debits from the credits gives an ending balance of $10,500 - $6,800 = $1,700.

Uploaded by

Charlene Gonzales
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as RTF, PDF, TXT or read online on Scribd
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account of $8,200.

In the cash disbursements journal, the Accounts Payable column has total

debits of $6,800 for November. The Accounts Payable credit column in the purchases journal

reveals a total of $10,500 for the current month. Based on this information, what is the ending

balance in the Accounts Payable account in the general ledger?

A. Record the following transactions in the sales journal:|

1. Jan. 15 Invoice #325, sold goods on credit for $2,400, to Maroon 4, account#

4501

2. Jan. 22 Invoice #326, sold goods on credit for $3,500 to BTS, account#5032

3. Jan. 27 Invoice #327, sold goods on credit for $1,250 to Imagine Fireflies,

account #3896

B. Record the following transactions in the cash receipts journal.

1. Jun. 12 Your company received payment in full from Jolie Inc. in the amount of

$1,225 for merchandise purchased on June 4 for $1,250, invoice number#1032

Jolie Inc. was offered terms of 2/10, n/30. Record the payment.

2 Jun. 15 Portman Inc, mailed you a check for $2500. The company paid for invoice

#1027, dated June 1, in the amount of $2,500, terms offered 3/10, n/30.

3. Jun. 17 Your company received a refund check (its check#12440) from the State

Power Company because you overpaid your electric bill. The check was in the

amount of $72. The Utility Expense account number is #450. Record receipt of the

refund.

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