As the accountant of Rachel’s Natural Food Store (1) journalize the following transactions into the general journal (p. 2), (2) record and post as appropriate, and (3) prepare a schedule of accounts payable. If using working papers, be sure to put in the following balances: Airon Co. $250; Bixby Co. $750; Mixon Co. $1,200; Ryan Co. $400; Accounts Payable $2,600; Purchases $1,900. 201X Aug. 8 Purchased $700 of merchandise on account from Airon Co., invoice no. 400, dated August 9; terms 6/10, n/60. 10 Purchased $1,350 of merchandise on account from Bixby Co., invoice no. 420, dated August 11; terms 6/10, n/60. 12 Purchased $550 of store supplies on account from Mixon Co., invoice no. 510, dated August 13. 14 Issued debit memo no. 8 to Airon Co. for merchandise returned, $450, from invoice no. 400. 17 Purchased $560 of office equipment on account from Ryan Co., invoice no. 810, dated August 18. 24 Purchased $850 of additional store supplies on account from Mixon Co., invoice no. 516, dated August 25; terms 6/10, n/30.
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