EX 5-15 Posting a purchases journal
The purchases journal for Crystal View Window Cleaners Inc. is shown below. The accounts payable account has a January 1, 2012, balance of $365 of an amount due from Little Co. There were no payments made on creditor invoices during January.
| PURCHASES JOURNAL | |||||||
| Accts. | Cleaning | Other | |||||
| Post. | Payable | Supplies | Accounts | Post. | |||
| Date | Account Credited | Ref. | Cr. | Dr. | Dr. | Ref. | Amount |
| 2012 | |||||||
| Jan. 4 | Kleen-Mate Supplies Inc. | 570 | 570 | ||||
| 15 | Little Co. | 250 | 250 | ||||
| 19 | Office Mate Inc. | 2,700 | Office Equipment | 2,700 | |||
| 26 | Kleen-Mate Supplies Inc. | 330 | 330 | ||||
| 31 | 3,850 | 1,150 | 2,700 | ||||
a. Prepare a T account for the accounts payable creditor accounts.
b. Post the transactions from the purchases journal to the creditor accounts, and determine their ending balances.
c. Prepare T accounts for the accounts payable control and cleaning supplies accounts. Post control totals to the two accounts, and determine their ending balances.
d. Prepare a schedule of the creditor account balances to verify the equality of the sum of the creditor account balances and the accounts payable account balance.
e. How might a computerized accounting system differ from the use of a purchases journal in recording purchase transactions?
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