Big Country Ski Shop is a retail store that sells ski equipm

Big Country Ski Shop is a retail store that sells ski equipment and clothing. Big Country Ski Shop commenced business on September 1, 2019. The firm purchases merchandise on open account. The firm’s purchases, purchase returns and allowances, and cash payments on account during September 2019 follow:

Purchased ski boots for $4,800 plus a freight charge of $290 from Colorado Ski Shop, Invoice 6672, terms n/30.

Purchased skis for $10,400 from Alaska Supply Company, Invoice 5916; terms 1/10, n/30.

Received Credit Memorandum 165 for $820 from Colorado Ski Shop for return of damaged ski boots; the boots were originally purchased September 2 on Invoice 6672.

Purchased ski jackets for $3,200 from Cold Mountain Clothing Company, Invoice 4091, terms n/30.

Issued Check 104 to Alaska Supply Company in payment of Invoice 5916, dated September 3, less the cash discount.

Purchased ski poles for $2,960 plus a freight charge of $210 from Alaska Supply Company, Invoice 5950, terms 3/10, n/30.

Purchased ski pants for $1,450 from Swenson Ski Goods, Invoice 528, terms n/30.

Received Credit Memorandum 245 for $220 from Swenson Ski Goods for return of defective ski pants; the pants were originally purchased September 23 on Invoice 528.

Purchased ski sweaters for $4,400 plus a freight charge of $190 from Colorado Ski Shop, Invoice 6722, terms n/30.

Issued Check 110 to Colorado Ski Shop in payment of Invoice 6672, dated September 2, less the return of September 7.

Required:

Open the general ledger accounts and accounts payable ledger accounts indicated below. Enter the balance of Cash as of September 1, 2019.

Post the entries from the general journal to the appropriate accounts in the general ledger and in the accounts payable ledger.

Prepare a schedule of accounts payable.

GENERAL LEDGER ACCOUNTS

ACCOUNTS PAYABLE LEDGER ACCOUNTS

Alaska Supply Company
Cold Mountain Clothing Company
Colorado Ski Shop
Swenson Ski Goods

Analyze:
What portion of the purchases in September, before purchases returns and allowances and before purchases discounts, were for clothing items? Include ski boots as a clothing item.

ACCOUNTS PAYABLE LEDGER ACCOUNTS
Complete this question by entering your answers in the tabs below.

General Ledgers

AP Ledgers

Schedule of AP

Analyze

Post the transactions to the appropriate accounts in the general ledger.

General Ledgers

Complete this question by entering your answers in the tabs below.

General Ledgers

AP Ledgers

Schedule of AP

Analyze

Post the transactions to the appropriate accounts in the accounts payable ledger.

General Ledgers

Schedule of AP

schedule.

What portion of the purchases in September, before purchases returns and allowances and before purchases discounts, were for clothing items? Include ski boots as a clothing item.

DATE	TRANSACTIONS
2019
Sept.	2	Purchased ski boots for $4,800 plus a freight charge of $290 from Colorado Ski Shop, Invoice 6672, terms n/30.
	3	Purchased skis for $10,400 from Alaska Supply Company, Invoice 5916; terms 1/10, n/30.
	7	Received Credit Memorandum 165 for $820 from Colorado Ski Shop for return of damaged ski boots; the boots were originally purchased September 2 on Invoice 6672.
	11	Purchased ski jackets for $3,200 from Cold Mountain Clothing Company, Invoice 4091, terms n/30.
	12	Issued Check 104 to Alaska Supply Company in payment of Invoice 5916, dated September 3, less the cash discount.
	22	Purchased ski poles for $2,960 plus a freight charge of $210 from Alaska Supply Company, Invoice 5950, terms 3/10, n/30.
	23	Purchased ski pants for $1,450 from Swenson Ski Goods, Invoice 528, terms n/30.
	25	Received Credit Memorandum 245 for $220 from Swenson Ski Goods for return of defective ski pants; the pants were originally purchased September 23 on Invoice 528.
	27	Purchased ski sweaters for $4,400 plus a freight charge of $190 from Colorado Ski Shop, Invoice 6722, terms n/30.
	30	Issued Check 110 to Colorado Ski Shop in payment of Invoice 6672, dated September 2, less the return of September 7.

Solution

Journal Entry Debit Credit 02.09.2019 Purchase A/c 4800 Freight Expense A/c 290 To Colorado Ski Shop 5090 03.09.2019 Purchase A/c 10400 To Alaska Supply Company A/c 10400 07.09.2019 Colorado Ski Shop A/c 820 To Purchase Return 820 11.09.2019 Purchase A/c 3200 To Cold mountain clothing company 3200 12.09.2019 Alaska Supply Company A/c 10400 To Cash 10296 To cash discount 104 22.09.2019 Purchase A/c 2960 Freight A/c 210 To Alaska Supply Company A/c 3170 23.09.2019 Purchase A/c 1450 To Swenson Ski Goods A/c 1450 25.09.2019 Swenson Ski Goods A/c 220 To Purchase Return 220 27.09.2019 Purchase A/c 4400 Freight A/c 190 To Colorado Ski Shop A/c 4590 30.09.2019 Colorado Ski Shop A/c 4270 To Cash 4270 Ledger Account Cash Account No : 101 Date Debit Credit Balance Sept 1,2019 24000 24000 Sept 12,2019 10296 13704 Sept 30,2019 4270 9434 Accounts Payable Account No : 201 Date Debit Credit Balance Sept 2, 2019 5090 5090 Sept 3, 2019 10400 15490 Sept 7,2019 820 14670 Sept 11,2019 3200 17870 Sept 12,2019 10400 7470 Sept 22,2019 3170 10640 Sept 23,2019 1450 12090 Sept 25,2019 220 11870 Sept 27,2019 4590 16460 Sept 30,2019 4270 12190 Purchases Account No : 501 Date Debit Credit Balance Sept 2, 2019 4800 4800 Sept 3, 2019 10400 15200 Sept 11,2019 3200 18400 Sept 22,2019 2960 21360 Sept 23,2019 1450 22810 Sept 27,2019 4400 27210 Freight In Account No : 502 Date Debit Credit Balance Sept 2, 2019 290 290 Sept 22,2019 210 500 Sept 27,2019 190 690 Purchases Returns and Allowances Account No : 503 Date Debit Credit Balance Sept 7, 2019 820 290 Sept 25, 2019 220 510 Purchases Discounts Account No : 504 Date Debit Credit Balance Sept 12, 2019 104 104 Alaska Supply Company Terms: 3/10,n/30 Date Debit Credit Balance Sept 3, 2019 10400 10400 Sept 12, 2019 10400 0 Sept 22, 2019 3170 3170 Cold Mountain Clothing Company Terms: n/30 Date Debit Credit Balance Sept 11, 2019 3200 3200 Colorado Ski Shop Terms: n/30 Date Debit Credit Balance Sept 2, 2019 5090 5090 Sept 7, 2019 820 4270 Sept 27, 2019 4590 8860 Sept 30, 2019 4270 4590 Swenson Ski Goods Terms: n/30 Date Debit Credit Balance Sept 23, 2019 1450 1450 Sept 25, 2019 220 1230 BIG COUNTRY SKI SHOP Schedule of Accounts Payable September 30, 2019 Alaska Supply Company 3170 Cold Mountain Clothing Company 3200 Colorado Ski Shop 4590 Swenson Ski Goods 1230 Total 12190 What portion of the purchases in September, before purchases returns and allowances and before purchases discounts, were for clothing items? Include ski boots as a clothing item. Portion of clothing items purchased 13850