1. Determine the balance of accounte payable - adler corporation as of october 31.2. Determine the balance of the accounts payable - hendry company as of october 31 Goren Company uses a single-column purchases journal, a cash payments journal, and ageneral journal to record transactions with its suppliers and others. Record the followingtransactions in the appropriate journals.TransactionsOct. 5 Purchased merchandise on account for 20,000 from Hendry Company. Terms:2/10, n/30; FOB shipping point.Oct. 6 Paid 7,200 to Federated Insurance Company for a two-year fire insurance policy.Oct. 8 Purchased store supplies on account for 700 from Flint Supply Company. Terms:2/10, n/30.Oct. 11 Purchased merchandise on account for 14,000 from Adler Corporation. Terms:2/10, n/30; FOB shipping point.Oct. 13 Granted a reduction of 3,000 to Adler Corporation for merchandise purchased onOct 11 and returned because of damage.Oct. 15 Paid Hendry Company for merchandise purchased on October 5, less discount.Oct. 16 Purchased merchandise for 8,000 cash from Clifford Company.Oct. 21 Paid Adler Corporation for merchandise purchased on October 11, less merchandisereturned on October 13, less discount.Oct. 25 Purchased merchandise on account for 22,000 from Eaton Company. Terms: 2/10,n/30; FOB shipping point.Oct. 31 Purchased office equipment for 30,000 cash from Pate Office Supply Company

The balance of accounte payable - adler corporation as of october 31. So, the balance of accounts…

Answered: 1. Determine the balance of accounte…

1. Determine the balance of accounte payable - adler corporation as of october 31. 2. Determine the balance of the accounts payable - hendry company as of october 31

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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