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Big Country Ski Shop is a retail store that sells ski equipment and clothing. Big Country Ski Shop commenced business on September 1, 2019. The firm purchases merchandise on open account. The firms purchases, purchase returns and allowances, and cash payments on account during September 2019 follow:

DATE		TRANSACTIONS
2019
Sept.	2	Purchased ski boots for $6,100 plus a freight charge of $260 from Colorado Ski Shop, Invoice 6672, terms n/30.
	3	Purchased skis for $11,700 from Alaska Supply Company, Invoice 5916; terms 2/10, n/30.
	7	Received Credit Memorandum 165 for $950 from Colorado Ski Shop for return of damaged ski boots; the boots were originally purchased September 2 on Invoice 6672.
	11	Purchased ski jackets for $4,500 from Cold Mountain Clothing Company, Invoice 4091, terms n/30.
	12	Issued Check 104 to Alaska Supply Company in payment of Invoice 5916, dated September 3, less the cash discount.
	22	Purchased ski poles for $4,260 plus a freight charge of $145 from Alaska Supply Company, Invoice 5950, terms 3/10, n/30.
	23	Purchased ski pants for $2,750 from Swenson Ski Goods, Invoice 528, terms n/30.
	25	Received Credit Memorandum 245 for $350 from Swenson Ski Goods for return of defective ski pants; the pants were originally purchased September 23 on Invoice 528.
	27	Purchased ski sweaters for $3,100 plus a freight charge of $125 from Colorado Ski Shop, Invoice 6722, terms n/30.
	30	Issued Check 110 to Colorado Ski Shop in payment of Invoice 6672, dated September 2, less the return of September 7.

Required:

Open the general ledger accounts and accounts payable ledger accounts indicated below. Enter the balance of Cash as of September 1, 2019.

Post the entries from the general journal to the appropriate accounts in the general ledger and in the accounts payable ledger.

Prepare a schedule of accounts payable.

GENERAL LEDGER ACCOUNTS

101	Cash, $26,000 Dr.
201	Accounts Payable
501	Purchases
502	Freight In
503	Purchases Returns and Allowances
504	Purchases Discounts

ACCOUNTS PAYABLE LEDGER ACCOUNTS Alaska Supply Company Cold Mountain Clothing Company Colorado Ski Shop Swenson Ski Goods

Analyze: What portion of the purchases in September, before purchases returns and allowances and before purchases discounts, were for clothing items? Include ski boots as a clothing item.

Post the transactions to the appropriate accounts in the general ledger.

	Cash Account No: 101 Accounts Payable Account No: 201 Date Debit Credit Balance Date Debit Credit Balance Sept 1, 2019 Purchases Account No: 501 Freight In Account No: 502 Date Debit Credit Balance Date Debit Credit Balance Purchases Returns and Allowances Account No: 503 Purchases Discounts Account No: 504 Date Debit Credit Balance Date Debit Credit Balance

AP Ledgers

Post the transactions to the appropriate accounts in the accounts payable ledger.

	Alaska Supply Company Terms: 3/10, n/30 Cold Mountain Clothing Company Terms: n/30 Date Debit Credit Balance Date Debit Credit Balance Colorado Ski Shop Terms: n/30 Swenson Ski Goods Terms: n/30 Date Debit Credit Balance Date Debit Credit Balance

Prepare a schedule of accounts payable. Compare the balance of the Accounts Payable control account with the total of the schedule.

	BIG COUNTRY SKI SHOP Schedule of Accounts Payable September 30, 2019 Alaska Supply Company Cold Mountain Clothing Company Colorado Ski Shop Swenson Ski Goods Total

What portion of the purchases in September, before purchases returns and allowances and before purchases discounts, were for clothing items? Include ski boots as a clothing item.

	Portion of clothing items purchased

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