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At the End of February 2013 and Before the Purchases

Question 59

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At the end of February 2013 and before the purchases journal was posted, selected general ledger account balances for Volter Repair Services were as follows (each account had a normal balance): At the end of February 2013 and before the purchases journal was posted, selected general ledger account balances for Volter Repair Services were as follows (each account had a normal balance): The purchases journal had the following totals: Purchases, $28,000; Freight In, $1,000; Accounts Payable, $29,000. Calculate the ending balance of each of the three accounts after the posting from the purchases journal. Indicate whether each balance is a debit or credit. The purchases journal had the following totals: Purchases, $28,000; Freight In, $1,000; Accounts Payable, $29,000.
Calculate the ending balance of each of the three accounts after the posting from the purchases journal. Indicate whether each balance is a debit or credit.

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