2. Below are some of the accounts of Parker Company's ledger as of October 31, 2021. PARKER COMPANY Accounts Payable Subsidiary Ledger Neil Co. Date Explanation Ref Debit Credit Balance Ос-01 GI S5,500 $5,500 Holland Co. Date Explanation Ref Debit Credit Balance Oct-01 PI $9,000 $9,000 Oct-20 PI S8,500 $17,500 Garfield Co. Date Explanation Ref Debit Credit Balance Oct-03 PI $12,500 $12,500 Oct-05 GI $1,500 $11,000 Bell Co. Date Explanation Ref Debit Credit Balance Oct-10 PI $6.600 $6,600 Oct-13 PI $3,400 $10,000 Oct-15 GI $400 $9,600 Oct-22 PI $11,500 $21,100 PARKER COMPANY General Ledger Supplies No. 109 Date Explanation Ref Debit Credit Balance Oct-01 GI $5,500 $5,500 Accounts Payable No. 201 Date Explanation Ref Debit Credit Balance Oct-01 GI $5,500 $5,500 Oct-05 GI $1,500 $4,000 Oct-15 GI $400 $3,600 Oc-31 PI $51,500 $55,100 Inventory No. 120 Date Explanation Ref Debit Credit Balance Oct-05 GI S1,500 $1,500 Осt-15 GI $400 $1,900 Oct-31 P1 $51,500 $49,600 Instruction: a. From the data above, prepare a single-column purchases journal for October 2021 (assume that all accounts payable owned by Parker Company in October 31, 2021 have the terms 2/10, n/30). b. Prepare general journal entries for October 2021,

2. Below are some of the accounts of Parker Company's ledger as of October 31, 2021. PARKER COMPANY Accounts Payable Subsidiary Ledger Neil Co. Date Explanation Ref Debit Credit Balance Ос-01 GI S5,500 $5,500 Holland Co. Date Explanation Ref Debit Credit Balance Oct-01 PI $9,000 $9,000 Oct-20 PI S8,500 $17,500 Garfield Co. Date Explanation Ref Debit Credit Balance Oct-03 PI $12,500 $12,500 Oct-05 GI $1,500 $11,000 Bell Co. Date Explanation Ref Debit Credit Balance Oct-10 PI $6.600 $6,600 Oct-13 PI $3,400 $10,000 Oct-15 GI $400 $9,600 Oct-22 PI $11,500 $21,100 PARKER COMPANY General Ledger Supplies No. 109 Date Explanation Ref Debit Credit Balance Oct-01 GI $5,500 $5,500 Accounts Payable No. 201 Date Explanation Ref Debit Credit Balance Oct-01 GI $5,500 $5,500 Oct-05 GI $1,500 $4,000 Oct-15 GI $400 $3,600 Oc-31 PI $51,500 $55,100 Inventory No. 120 Date Explanation Ref Debit Credit Balance Oct-05 GI S1,500 $1,500 Осt-15 GI $400 $1,900 Oct-31 P1 $51,500 $49,600 Instruction: a. From the data above, prepare a single-column purchases journal for October 2021 (assume that all accounts payable owned by Parker Company in October 31, 2021 have the terms 2/10, n/30). b. Prepare general journal entries for October 2021,

Name: 2. Below are some of the accounts of Parker Company's ledger as of Oc
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Description: 2. Below are some of the accounts of Parker Company's ledger as of October 31, 2021.PARKER COMPANYAccounts Payable Subsidiary LedgerNeil Co.DateExplanation RefDebitCreditBalanceOct-01GIS5,500$5,500Holland Co.DateExplanationRefDebitCreditBalanceOct-0

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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