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Ap7 2a
Ap7 2a
AP7-2A
Ming Company’s chart of accounts includes the following selected accounts.
On October 1 the accounts payable ledger of Ming Company showed the following balances: Bovary Company $2,910, Nyman Co. $2,600, Pyron Co. $1,810, and Sims
Company $3,740. The October transactions involving the payment of cash were as follows.
Instructions
(a) Journalize the transactions above in a four-column cash payments journal with columns for Other Accounts Dr., Accounts Payable Dr., Merchandise Inventory Cr.,
and Cash Cr. Foot and crossfoot the journal. (If answer is zero, please enter 0 do not leave any fields blank.)
29 70 Sims Company 3
(b) Insert the beginning balances in the Accounts Payable control and subsidiary accounts, and post the October transactions to these accounts. (If answer is zero,
please enter 0 do not leave any fields blank.)
General Ledger
Accounts Payable No. 201
Date Explanation Ref. Debit Credit Balance
Oct. 1 Balance 3
31 CP1
5 CP1
Nyman Co.
Date Explanation Ref. Debit Credit Balance
Oct. 1 Balance 3
19 CP1
Pyron Co.
Date Explanation Ref. Debit Credit Balance
Oct. 1 Balance 3
15 CP1
Sims Company
Date Explanation Ref. Debit Credit Balance
Oct. 1 Balance 3
29 CP1
(c) Prove the agreement of the control account and the subsidiary account balances.
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AP7-2A Page 2 of 2
Total $
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