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Hammer-Time sells hand tools. During the month of April 2016, the following transactions occurred. Assume zero opening balances for the subledger and general journal accounts. Assume no entries were made directly to the accounts payable general ledger from the general journal.
Apr 3 Purchased inventory for $7,100 on account from HouseDepot.Apr 6 Paid salaries for $2,840 with cheque #664.Apr 12 Purchased inventory for $4,170 cash from James Company with cheque #665.Apr 14 Paid the full amount owing to HouseDepot from the Apr 3 transaction with cheque #666.Apr 22 Purchased inventory for $7,050 on account from Debolt Company.
Required
Problem a) Record the above transactions in the purchases journal and the cash payments journal.
Problem b) Post the appropriate transactions from the journals to the subledger accounts.
Problem c) At the end of the month, total the journals and update the accounts payable control account.
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