Describe the three posted transactions.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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E7-22 only
(118), Office Sup-
plies (120), Equipment (150), and Accounts Payable (211). Post to these accounts
from the purchases journal. Use dates and posting references in the accounts.
3. Open four-column accounts in the accounts payable subsidiary ledger for Fallon
Equipment, Jell Supply, and Leap Tech. Post from the purchases journal. Use dates
and posting references in the ledger accounts.
4. Balance the Accounts Payable control account in the general ledger with the total
of the ending balances in the accounts payable subsidiary ledger.
Learning Objective 3
E7-22 Identifying transactions in the accounts payable subsidiary ledger
A vendor account in the accounts payable subsidiary ledger of Frost Company follows.
LARRY CARPENTER
Balance
Date Post. Ref.
Debit
Credit
Debit
Credit
Dec.
1,800
12
P.4
2,340
4,140
20
J.10
200
3,940
29
CP.6
1,500
2,440
orngren's Accounting, Volume 1, Third Custom Edition for Borough of Manhattan Community College of CUNY by Tracie L. Miller-Nobles, Brenda L. Mattison, and Ella Mae
atsumura. Copvriaht © 2018 bv Pearson Education. Inc. All Riahts Reserved. Pearson Custom Edition.
MacBook Air
80
DII
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F8
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F10
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CHAPTER 7
* 00
Transcribed Image Text:(118), Office Sup- plies (120), Equipment (150), and Accounts Payable (211). Post to these accounts from the purchases journal. Use dates and posting references in the accounts. 3. Open four-column accounts in the accounts payable subsidiary ledger for Fallon Equipment, Jell Supply, and Leap Tech. Post from the purchases journal. Use dates and posting references in the ledger accounts. 4. Balance the Accounts Payable control account in the general ledger with the total of the ending balances in the accounts payable subsidiary ledger. Learning Objective 3 E7-22 Identifying transactions in the accounts payable subsidiary ledger A vendor account in the accounts payable subsidiary ledger of Frost Company follows. LARRY CARPENTER Balance Date Post. Ref. Debit Credit Debit Credit Dec. 1,800 12 P.4 2,340 4,140 20 J.10 200 3,940 29 CP.6 1,500 2,440 orngren's Accounting, Volume 1, Third Custom Edition for Borough of Manhattan Community College of CUNY by Tracie L. Miller-Nobles, Brenda L. Mattison, and Ella Mae atsumura. Copvriaht © 2018 bv Pearson Education. Inc. All Riahts Reserved. Pearson Custom Edition. MacBook Air 80 DII F3 F4 F6 F7 F8 F9 F10 F12 #3 $ & 3 4 5 7 9 { R Y U P CHAPTER 7 * 00
Describe the three posted transactions.
Transcribed Image Text:Describe the three posted transactions.
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