**Sterling Forest Landscaping Purchases in October**Sterling Forest Landscaping designs and installs landscaping. The landscape designers and office staff use office supplies, while field supplies (rock, bark, etc.) are used in the actual landscaping. The following are purchases made on account by Sterling Forest Landscaping during October:- **October 2**: Purchased office supplies on account from Meade Co., $3,080.- **October 5**: Purchased office equipment on account from Peach Computers Co., $4,430.- **October 9**: Purchased office supplies on account from Executive Office Supply Co., $320.- **October 13**: Purchased field supplies on account from Yamura Co., $3,510.- **October 14**: Purchased field supplies on account from Omni Co., $460.- **October 17**: Purchased field supplies on account from Yamura Co., $8,350.- **October 24**: Purchased field supplies on account from Omni Co., $2,350.- **October 29**: Purchased office supplies on account from Executive Office Supply Co., $210.- **October 31**: Purchased field supplies on account from Omni Co., $3,080.*Note: Posting references have been provided.* **Educational Content on Accounts Payable Ledger**---**Section 2: Account Balances as of October 1**Insert the following balances in the *Accounts Payable Subsidiary Ledger*:- **Executive Office Supply Co.**: $1,780- **Meade Co.**: $3,610- **Orni Co.**: -- **Peach Computers Co.**: -- **Yamura Co.**: -*Note:* After completing the recording of transactions in part 3, post to the creditor accounts in the *Accounts Payable Subsidiary Ledger* immediately after each entry. If an amount box does not require an entry, leave it blank.---**Tasks:**3. **Journalize Transactions** - Journalize the transactions for October (in chronological order), using the purchases journal below (p. 30), similar to the one illustrated in this chapter. - Post to the creditor accounts in the subsidiary ledger (in part 2) immediately after each entry.4. **Post to General Ledger** - Post the purchases journal to the accounts in the general ledger (in part 1). If an amount box does not require an entry, leave it blank. - If no other account is needed in the "Other Accounts Dr." column, select "No entry required."---**Questions:**5a. **What is the sum of the creditor balances in the subsidiary ledger at October 31?** - Input box for the sum in dollars.5b. **What is the balance of the accounts payable controlling account at October 31?** - Input box for the balance in dollars.---This section focuses on managing and understanding the accounts payable processes through practical application in ledgers and journals.

An accounts payable subsidiary ledger is an accounting ledger that shows the transaction history and…

2. Insert the following balances in the accounts payable subsidiary ledger as of October 1: Executive Office Supply Co. $1,780 Meade Co. 3,610 Omni Co. Peach Computers Co. Yamura Co. After completing the recording of transactions in part 3, post to the creditor accounts in the accounts payable subsidiary ledger immediately after each entry. If an amount box does not require an entry, leave it blank Journalize the transactions for October (in chronological order), using the purchases journal below (p. 30) similar to the one illustrated in this chapter. Post to the creditor accounts in the accounts payable bsidiary ledger (in part 2) immediately after each entry. Post the purchases journal to the accounts in the general ledger (in part 1). If an amount box does not require an entry, leave it blank. no other account is needed in the "Other Accounts Dr." column select "No entry reuirad 21 V) 5a. What is the sum of the creditor balances in the subsidiary ledger at October 31? 5b. What is the balance of the accounts payable controlling account at October 31?

2. Insert the following balances in the accounts payable subsidiary ledger as of October 1: Executive Office Supply Co. $1,780 Meade Co. 3,610 Omni Co. Peach Computers Co. Yamura Co. After completing the recording of transactions in part 3, post to the creditor accounts in the accounts payable subsidiary ledger immediately after each entry. If an amount box does not require an entry, leave it blank Journalize the transactions for October (in chronological order), using the purchases journal below (p. 30) similar to the one illustrated in this chapter. Post to the creditor accounts in the accounts payable bsidiary ledger (in part 2) immediately after each entry. Post the purchases journal to the accounts in the general ledger (in part 1). If an amount box does not require an entry, leave it blank. no other account is needed in the "Other Accounts Dr." column select "No entry reuirad 21 V) 5a. What is the sum of the creditor balances in the subsidiary ledger at October 31? 5b. What is the balance of the accounts payable controlling account at 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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