b AMT u Haul , point of Sale l 9- g Armerco Intranet Login U-Haul MCC Superior N
ID: 2515307 • Letter: B
Question
b AMT u Haul , point of Sale l 9- g Armerco Intranet Login U-Haul MCC Superior National Bank & ctice Bowden Company (buyer) and Song, Inc. (seller), engaged in the following transactions during Jana Bowden Company DATE TRANSACTIONS 2019 Jan. 8 Issued Check 2101 for $2,940 on account to song, Inc., in payment of Invoice 1885 dated December 30, 2018, less cash discount of $60 10 Purchased merchandise for $3,500 from Song, Inc., Invoice 1920: terms 2/10, n/30. 15 Received Credit Memorandum 320 from Song, Inc., for damaged merchandise totaling $300 that was returned: the goods were purchased on Invoice 1920, dated January 10. 19 Paid amount due to Song, Inc., for Invoice 1920 of January 10, less the return of January 15 and less the cash discount, Check 2130. 30 Purchased merchandise for $4,400 from Song, Inc., Invoice 19507 terms 2/10, n/30. GENERAL LEDGER ACCOUNTS-BOWDEN COMPANY 201 Accounts Payable, $3,000 Cr K Prev 2 of 5 Score answer > searchExplanation / Answer
Date
2019
Bank
(Check: 2101)
$4,400
( *Done in accordance with the question. Here the balance is presumed as the credit balance. Also, the subsidiary ledger will be same since there are only Song Inc. Accounts Payable transaction mentioned)
Note: Not written again so as to avoid confusion.
(**Here the balance is presumed as debit balance. And again both general ledger and subsidiary ledger will be similar here since only Bowden Company transactions are involved)
Summary :
The balance of the accounts payable for Song Inc., in the Bowden company accounts payable subsidiary ledger, will be a credit balance of $4,400 and
The balance of the accounts receivable for Bowden company in the Song Inc.accounts receivables subsidiary ledger will be a debit balance of $4,400.
Date
2019
Particulars Debit Credit Jan 8 Accounts Payable - Song Inc. $3,000 Discount received $60Bank
(Check: 2101)
$2,940 10 Purchases $3,500 Accounts Payable - Song Inc. $3,500 15 Accounts Payable - Song Inc. $300 Purchases returns $300 19 Accounts Payable - Song Inc. $3,200 Discount received $64 Bank(Check: 2130) $3,136 30 Purchase $4,400 Accounts Payable - Song Inc.
$4,400
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