Reineke Company’s chart of accounts includes the following selected accounts.
101 Cash 201 Accounts Payable
120 Inventory 306 Owner’s Drawings
130 Prepaid Insurance 505 Cost of Goods Sold
157 Equipment
On October 1, the accounts payable ledger of Reineke Company showed the following balances: Uggla Company $2,900, Orr Co. $2,700, Rosenthal Co. $1,900, and Clevenger Company $3,900. The October transactions involving the payment of cash were as follows.
Oct. 1 Purchased merchandise, check no. 63, $220.
3 Purchased equipment, check no. 64, $860.
5 Paid Uggla Company balance due of $2,900, less 2% discount, check no. 65, $2,842.
10 Purchased merchandise, check no. 66, $2,550.
15 Paid Rosenthal Co. balance due of $1,900, check no. 67.
16 C. Reineke, the owner, pays his personal insurance premium of
PayPal Gateway not configured
PayPal Gateway not configured