2.The following journal entries are for the Music Co of the Americas. You are to

Question

2.The following journal entries are for the Music Co of the Americas. You are to post the entries and to prepare a schedule of Accounts Payable. Pace l AGE Date Account title & description Debit June 3 Purchases 900 Accts Payable-Bob Marley 900 Purchase of musical scores on account June 4 Purchases 600 600 Accts Payable-Perenado Purchase of musical scores on account Accounts Payable-Bob Marley 350 June 8 350 Purchase Return and Allowance Issue debit memo # 1 Equipment Accounts Payable-Perea prado 2500 June 10 2500 Purchase recording equipment on account from Perez Prado.

Explanation / Answer

BOB Marley Jun-08 350 Jun-03 900 350 900 Ending balance 550 M Sparrow Jun-04 600 Jun-10 2500 0 3100 Ending balance 3100 Equipment Jun-10 2500 2500 0 Ending balance 2500 Purchase Jun-03 900 Jun-04 600 1500 0 Ending balance 1500 Accounts payable Jun-08 350 Jun-03 900 Jun-04 600 Jun-10 2500 350 4000 Ending balance 3650 Purchase return and allowance Jun-08 350 0 350 Ending balance 350

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