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Required information The following information applies to the questions displayed below] The Oid English Garden Shop is a retail store that sells garden equipment, furniture, and supplies. Its credit purchases and purchases returns and allowances for July are listed below. The general ledger accounts used to record these transactions are also provided. The balance shown is for the beginning of July 201 GEAERAT LEDGER ACCOUNTS 205 Accounts payable, $35,989 Credit 501 Purchases 502 frelght In 503 Purchases returas and allowances DATE TRANSACTIONS July 1 Purchased lawn nowers for $9,410 plus o freight charge of $269 from charleston Corporation, Involce 1011 , dated Tune 26, net due and payobie in 60 days. July 5 Purchased outdoor chairs and tables for $4,470 plus a frelght charge of $562 from Cedarbeok Garden Center. Imolee 699 , dated 3uly 2 , net due and payable in 45 days. July 9 Purchased grass seed for $1,525 fron tavn and Gardens supply, Involce b164, dated July 5, the terms are 30 day $ net: July 16 Recelved Credit Memorandue 110 for $500 from Cedarbrook Garden Centers the amount is an allowance for scratches on some of the chairs and tabies origlnally purchased on Involce 639, dated July 2. July 19 Purchased fertilizer for $1,300 plus a freight charge of $266 fron Lawn and Gardens 50pply, Involce 9050 , dated July 15; the teres are 30 days net. July 21 Purchased hoses from Dunn Rubber Company for $3,790 plus a freight charge of 5264 , Invotce 17as, dated 3uly 17: terns are 1/15,n/60. July 28 Recelved Credit Memorandum 223 for $30 froe Dunn Rubber Coapany for danaged hoses that were returned; the goods were purchased on Involce 1785 , dated July 17. July 31 Purchased lawn sprinkler systeas for $10,610 plus o freight charge of $298 from Warren Industribl Products, Invoice 8985 , dated July 26 ; the terss are 2/10, n/30. Required: 1. Set up an accounts payable subsidiary ledger for The Old English Garden Shop. Open an account for each of the creditors isted below and enter the balances as of July 1. 2. Post the individual entries from the purchases journal and the general journal prepared in Part L. 3. Prepare a schedule of accounts payable for July 31,201. 4. Check the total of the schedule of accounts payable against the balance of the Accounts Payable account in the general ledger. The two amounts should be equal

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