1. Financial Statements Review

2. Lesson 9-1 When you add all of the Accounts Payable Ledger account balances, it will equal the balance of the Accounts Payable account in the general ledger. This is just another way of controlling the accuracy of your work.

3. November 6. Purchased merchandise on account from Wynn Lighting, $1,082.50. Purchase Invoice No. 525. Lesson 9-2

4. Lesson 9-3 2 2 1 1 Calculate the new balance.

5. Lesson 9-3 Your total Purchases debits = your total Accounts Payable credits

6. Lesson 9-3 2 2 Journal Number 5 5 Account Number 1 1 Date 4 4 Account Balance 3 3 Debit or Credit 5 5 4 4 3 3 1 1 2 2 Note: Post to two general ledger accounts Purchases Debit and Accounts Payable Credit Purchases Debit and Accounts Payable Credit

7. November 3. Wrote a check to Kelser Promotions for advertising, $600.00. Check No. 689. Lesson 9-4

8. November 6. Wrote a check to Wells Office Supply for store supplies, $56.20. Check No. 690. Lesson 9-4

9. November 9. Purchased merchandise from Polar Refrigeration for cash, $480.00. Check No. 697. Lesson 9-4

10. November 14. Paid cash on account to Galle Electric, $627.20, covering Purchase Invoice No. 489 for $640.00, less 2% discount, $12.80. Check No. 702. Lesson 9-4

11. November 21. Wrote a check to S&R Imports to pay on account, $2,512.00, covering Purchase Invoice No. 468. Check No. 706.

12. Lesson 9-4 November 22. Paid cash to replenish the petty cash fund, $214.82: advertising, $124.00; store supplies, $62.18; miscellaneous, $28.95; cash over, $0.31. Check No. 707. Check Number Date Cash Over is a Credit Amounts Account Title Total Cash Payment

13. Lesson 9-5 3 3 Debit 1 1 Date 5 5 Vendor Number 2 2 Journal Page Number 4 4 Account Balance

14. Lesson 9-5 3 3 Debit 1 1 Date 5 5 Vendor Number 2 2 Journal Page Number 4 4 Account Balance

15. Lesson 9-5 Prove the accuracy of your work by adding the two debit column totals and verifying that the total equals the total of the three credit column totals.

16. Lesson 9-5 3 3 Debit or Credit Amount 1 1 Date Journal Page Number 2 2 4 4 Account Balance 1 1 2 2 5 5 Account Number 4 4 5 5 1 1 2 2 4 4 5 5 3 3 3 3 You have to post the Accounts Payable Debit column total, the Purchases Discount Credit total and the Cash Credit total to the three ledger cards.

17. Lesson 9-5