Originally I recorded the "freight" charges directly from the instructions into the freight account listed...
70.2K
Verified Solution
Link Copied!
Question
Accounting
Originally I recorded the "freight" charges directly from the instructions into the freight account listed in image 3, and it was marked wrong. There is not enough space in the purchases or accounts payable accounts to record each dated transaction listed in image 2. What am I missing. Will I record each transaction. how could my freight in be wrong even the dates when it's coming from the dates in the prompt.
1. Open the general ledger accounts and enter the balance of Accounts Payable for June 1, 2019. 2. Record the transactions in a three-column purchases journal and in a general journal 3. Post entries from the general journal to the general ledger accounts. 4. Total and rule the purchases journal as of June 30 5. Post the column totals from the purchases journal to the proper general ledger accounts 6. Compute the net purchases of the firm for the month of June. Analyze: What total purchases were posted to the Purchases general ledger account for June
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
