Journalize, record, and post when appropriate the following transactions into th

Question

Journalize, record, and post when appropriate the following transactions into the general journal for Kaden's Clothing. All purchases discounts arc 3/10, n/30. Assume the periodic inventory system. If using working papers, be sure to put in beginning balances. 1 Issued check no. 20 to A. Jenkins Company in payment of its March 28 invoice no. 522. 8 Issued check no. 21 to Fios Advertising in payment of its advertising bill $97. no discount. 15 Issued check no. 22 to B. Foss in payment of Its March 25 Invoice no. 488.From Exercise 10B-3, prepare a schedule of accounts payable and verify that the total of the schedule equals the amount in the controlling account.

Explanation / Answer

Date Account Debit Credit 1-Apr Accounts payable 500 cash 500 8-Apr advertising expense 97 cash 97 15-Apr Accounts payable 100 cash 100 General ledger Balance Cash 2200 2800-500-100 Accounts payable 450 (1050-600) Advertising expenses 97

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