Business, 01.07.2020 15:01 betsylancer8522

The purchases journal for Newmark Exterior Cleaners Inc. follows. The accounts payable account has a March 1, 20Y2, balance of $520 for an amount owed to Nicely Co. No payments were made on creditor invoices during March. PURCHASES JOURNAL Page 16
Date Account Credited Post. Ref. Accts Payable Cr. Cleaning Supplies Dr. Other Accounts Dr. Post.
Ref. Amount
20Y2
Mar. 4 Enviro-Wash Supplies Inc. 810 810
Mar. 15 Nicely Co. 355 355
Mar. 20 Office Mate Inc. 3,850 Office Equipment 3,850
Mar. 26 Enviro-Wash Supplies Inc. 470 470
Mar. 31 5,485 1,635 3,850
a. & b. Post the transactions from the purchases journal to the creditor accounts and determine their ending balances.
Enviro-Wash Supplies Inc.
31 Bal.
Nicely Co.
31 Bal.
Office Mate Inc.
31 Bal.
c. Prepare T accounts for the accounts payable control and cleaning supplies accounts. Post control totals to the two accounts, and determine their ending balances. Cleaning Supplies had a zero balance at the beginning of the month.
Accounts Payable
31 Bal.
Cleaning Supplies
31 Bal.
d. Prepare a schedule of the creditor account balances to verify the equality of the sum of the accounts payable creditor balances and the accounts payable controlling account balance.
Newmark Exterior Cleaners Inc.
Accounts Payable Creditor Balances
March 31, 20Y2
Enviro-Wash Supplies Inc. $
Nicely Co.
Office Mate Inc.
Total supplier account balances $
e. All of the following are ways a computerized accounting system might differ from the use of a purchases journal in recording purchase transactions EXCEPT:.

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The purchases journal for Newmark Exterior Cleaners Inc. follows. The accounts payable account has a...

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