Chapter 7, Problem S7.9SE

Posting transactions from a purchases journal to a subsidiary ledger and general ledger

Learning Objective 3

Review your results from Short Exercises $7-8.

Requirements

1. Total each column of purchases journal.
2. Open the following four-column accounts in the accounts payable subsidiary ledger: Accounts Payable-Bird Co.; Accounts Payable-Mayer Co.; Accounts Payable-Silly Co.. Post the transactions to the accounts payable subsidiary ledger.
3. Open the following selected four-column accounts in the general ledger: Merchandise Inventory (115), Office Supplies (116); Furniture (151); Accounts Payable (211). Post the total of each column to the general ledger. Also, post the Other Accounts column to the general ledger.
4. Balance the total of the customer ending balances in the accounts payable subsidiary ledger against Accounts Payable in the general ledger.