Reference no: EM132996255

Piedmont Inc. has the following transactions for its first month of business:

Jun. 1 Purchased inventory from Montana Inc. on credit for $4,500

Jun. 2 Purchased inventory from Payton Inc. on credit for $2,400

Jun. 3 Purchased inventory from Montana Inc. on credit for $1,800

Jun. 4 Paid $2,000 on account to Montana Inc.

Jun. 8 Purchased inventory on credit from Taylor Inc. for $2,000

Jun. 9 Paid Payton

Problem 1: What are the individual account balances, and the total balance, in the accounts payable subsidiary ledger?

Problem 2: What is the balance in the Accounts Payable general ledger account?