Week+1+Assignment

=Week I Assignment=

Week I –Skill 2--Posting to the Accounts Payable Ledger Objective: After completing this skill, you should be able to post from the purchases journal to the accounts payable ledger.
 * __Individual Assignment__**

Assignment Description: The account payable ledger is a three-column account form as seen in this week’s resources. The form has lines at the top for the name and address of the creditor. As you learned in Skill 1, the Credit column is used for //increases// in the amount owed to a creditor. Amounts in invoices received are always posted in the Credit column. The Credit balance column shows the total amount that is owed to a creditor at any one time. To find the balance, amounts in the Credit column are added to the previous balance and amounts in the Debit column are subtracted from the previous balance.

With all of this information in mind, perform the following simulation.

You are the accounts payable clerk at Northwest RV Supply Center in Everett, Washington. Post the information from the purchases journal to the creditors’ accounts in the accounts payable ledger. You can find the purchases journal and the creditors’ accounts in the accounts payable ledger in this week’s resources link.

This assignment is due day 3 of Week 1.