A company that records credit purchases in a purchases journal and records purchases returns in a general
journal made the following errors. Indicate when each error should be discovered.
1. Made an addition error in determining the balance of a creditor’s subsidiary account.
2. Made an addition error in totaling the Office Supplies column of the purchases journal.
3. Posted a purchases return to the Accounts Payable account and to the creditor’s subsidiary account
but did not post the purchases return to the Inventory account.
4. Posted a purchases return to the Inventory account and to the Accounts Payable account but did not
post to the creditor’s subsidiary account.
5. Correctly recorded a $4,000 purchase in the purchases journal but posted it to the creditor’s subsidiary
account as a $400 purchase.
We need at least 10 more requests to produce the solution.
0 / 10 have requested this problem solution
The more requests, the faster the answer.