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Home / Questions / Schedule of Accounts Payable 1. Prepare a schedule of accounts payable for Frank's Fantasy as of

Schedule of Accounts Payable 1. Prepare a schedule of accounts payable for Frank's Fantasy as of


Schedule of Accounts Payable 1. Prepare a schedule of accounts payable for Franks Fantasy as of July 31, 20-- 2. Which of th NAME Donnas Dolls ADDRESS DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- July 8 J16 2,790 2,790 July 15 J16 330 2,460 July 1 NAME Tillys Toys ADDRESS DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20- July 1 J16 2,700 2,700 July 5 J16 200 2,500 July 11 J 1. Prepare a schedule of accounts payable for Franks Fantasy as of July 31, 20-- Franks Fantasy Schedule of Accounts Payabl 2. Which of these steps do you follow to verify that the accounts payable account balance in the general ledger agrees with t Schedule of Accounts Payable 1. Prepare a schedule of accounts payable for Frank's Fantasy as of July 31, 20-- 2. Which of these steps do you follow to verify that the accounts payable account balance in the general ledger agrees with the schedule of accounts payable total? Verify the total of the schedule. b. Verify the postings to the accounts payable ledger c Verify the postings to the purchases journal. d.Verify the postings to the accounts payable in the general ledger. Emily Frank owns a small retail business called Frank's Fantasy. The transactions that occurred during July are reflected in the Account Payable subsidiary ledger below. ACCOUNTS PAYABLE LEDGER NAME Applied Business ADDRESS DATE ITEM POST. REF. CREDIT DEBIT BALANCE 20-- July 25 J17 2,680 2,680 NAME Donna's Dolls ADDRESS NAME Donna's Dolls ADDRESS DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- July 8 J16 2,790 2,790 July 15 J16 330 2,460 July 18 J17 2,460 NAME Scheer &Company ADDRESS DATE ITEM POST.REF. DEBIT CREDIT BALANCE 20-- July 3 J16 3,500 3,500 July 13 J16 3,500 July 29 J17 3,470 3,470 NAME Tilly's Toys ADDRESS DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20- July 1 J16 2,700 2,700 July 5 J16 200 2,500 July 11 J16 2,500 July 26 J17 2,170 2.170 1. Prepare a schedule of accounts payable for Frank's Fantasy as of July 31, 20-- Frank's Fantasy Schedule of Accounts Payable July 31, 20 Total 2. Which of these steps do you follow to verify that the accounts payable account balance in the general ledger agrees with the schedule of accounts payable total? a. Verify the total of the schedule. b. Verify the postings to the accounts payable ledger c. Verify the postings to the purchases journal. d. Verify the postings to the accounts paya ble in the general ledger.

Apr 01 2020 View more View Less

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