The purchases journal of Southeastern Publishing Company follows:

Purchase Journal Page 6 Other Accounts DR Date Vendor Account Credited Terms Post. Ref. Accounts Payable CR Merchandise Inventory DR Office Supplies DR Account Title Post. Ref. Amount 2018 Sept 2 Leap Tech n/30 830 830 5 Jell Supply n/30 155 155 13 Leap Tech 5/10, n/30 1,470 1,470 26 Fallon Equipment n/30 880 Equipment 880 Sep 30 Total Requirements 1. Total each column of the purchases journal. 2. Open four-column ledger accounts for Merchandise Inventory (118), Office Supplies(120), Equipment (150), and Accounts Payable (211). Post to these accountsfrom the purchases journal. Use dates and posting references in the accounts. 3. Open four-column accounts in the accounts payable subsidiary ledger for FallonEquipment, Jell Supply, and Leap Tech. Post from the purchases journal. Use datesand posting references in the ledger accounts. 4. Balance the Accounts Payable control account in the general ledger with the totalof the ending balances in the accounts payable subsidiary ledger.

Step by step solution

01

Total of each column of purchase journal

Purchase Journal Page 6 Other Accounts DR Vendor Account Credited Terms Post. Ref. Accounts Payable CR Merchandise Inventory DR Office Supplies DR Account Title Post. Ref. Amount Leap Tech n/30 830 830 Jell Supply n/30 155 155 Leap Tech 5/10, n/30 1,470 1,470 Fallon Equipment n/30 880 Equipment 880 Total $3,335 $2,300 $155 $880

02

General Ledgers

Merchandise Inventory No. 118 Balance Date Post. Ref. Debit Credit Debit Credit Sept 30 $2,300 $2,300 Office Supplies No. 120 Balance Date Post. Ref. Debit Credit Debit Credit Sept 30 $155 $155 Equipment No. 150 Balance Date Post. Ref. Debit Credit Debit Credit Sept 26 $880 $880 Accounts Payable No. 211 Balance Date Post. Ref. Debit Credit Debit Credit Sept 30 $3,335 $3,335

03

Accounts Payable Subsidiary Ledgers

Fallon Equipment Balance Date Post. Ref. Debit Credit Debit Credit Sept 26 $880 $880 Leap Tech Balance Date Post. Ref. Debit Credit Debit Credit Sept 2 $830 $830 13 1,470 1,470 Jell Supply Balance Date Post. Ref. Debit Credit Debit Credit Sept 5 $155 $155

04

Balancing accounts payable subsidiary ledgers against accounts payable control ledger

General Ledger Accounts Payable Credit Balance $3,335 Subsidiary Ledger: Accounts Payable Vendor Balance Fallon Equipment $ 880 Leap Tech 1,470 Jell Supply 155 Total Accounts Payable $3,335

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