EX 5-13 Identify transactions in accounts payable subsidiary ledger

The debits and credits from three related transactions are presented in the following creditor’s account taken from the accounts payable ledger.



NAME Apex Performance Co.
ADDRESS 101 W. Stratford Ave.
Date Item
Post.
Ref. Debit Credit Balance
2014
May 6 P44 12,000 12,000
14 J12 150 11,850
16 CP23 11,850 —

Describe each transaction, and identify the source of each posting.


Answer:
May
6. Purchased services, supplies, equipment, or other commodities on account; posted from purchases journal page 44.
14. Received an invoice adjustment or corrected an error related to purchase of May 6; posted from general journal page 12. (A payment would be recorded in the cash payments journal.)
16. Paid balance owed; posted from cash payments journal page 23.