please help with all the entries and solutions. thank you P7-3B. Peter Daly...
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please help with all the entries and solutions. thank you
P7-3B. Peter Daly operates a photo printing centre in Whitehorse. Peter has hired you as his bookkeeper to record the following transactions in the cash payments journal. He would like you to record and post as appropriate and supply him with a schedule of accounts payable. (Beginning balances are given in problem P7-3A.) 5022 May 3 Bought a used delivery truck for $8,500 cash, cheque No. 721, payable to Ring Motors Co. 3 Paid half the amount owed Marrk Co. from previous purchases on account, less a 3% purchases discount, cheque No. 722. 7 Bought merchandise from Dart Co., cheque No. 723,$2,780. 18 Bought additional merchandise from Tack Co., cheque No. 724, $500. 24 Paid P. Mark Co. the amount owed less a 3% purchases discount, cheque No. 725 . 27 Paid rent expense to Downtown Realty Trust, cheque No. 726 , $1,500. 28 Paid half the amount owed JNS Co., no discount, cheque No. 727. 31 Paid utilities to City Utility Co., cheque No. 728; \$325. Journalizing, recording, and posting a cash payments journal; preparing a schedule of accounts payable @ (40 min)
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