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Required information Problem 8.3A (Algo) Journalizing credit purchases and purchases returns and allowances, computing the net delivered cost of goods, posting to the general ledger, posting to the accounts payable ledger, and preparing a schedule of accounts payable. L [The following information applies to the questions displayed below.] The Old English Garden Shop is a retail store that sells garden equipment, furniture, and supplies. Its credit purchases and purchases returns and allowances for July are listed below. The general ledger accounts used to record these transactions are also provided. The balance shown is for the beginning of July 201. GENERAL LEDGER ACCOUNTS 205 Accounts payable, $35,830Cr. 501 Purchases 502 Freight In 503 Purchases returns and allowances 205 Accounts payable, $35,830Cr. 501 Purchases 502 Freight In 503 Purchases returns and allowances DATE TRANSACTIONS July 1 Purchased lawn mowers for $9,160 plus a freight charge of $244 from Charleston Corporation, Invoice 1011, dated June 26, net due and payable in 60 days. 5 Purchased outdoor chairs and tables for $4,320 plus a freight charge of $547 from Cedarbrook Garden Center, Invoice 639, dated July 2, net due and payable in 45 days. 9 Purchased grass seed for $1,290 from Lawn and Gardens Supply, Invoice 8164 , dated July 5 ; the terms are 30 days net. 16 Received Credit Memorandum 110 for $550 from Cedarbrook Garden Center; the amount is an allowance for scratches on some of the chairs and tables originally purchased on Invoice 639, dated July 2 . 19 Purchased fertilizer for $1,150 plus a freight charge of $251 from Lawn and Gardens Supply, Invoice 9050, dated July 15; the terms are 30 days net. 21 Purchased hoses from Dunn Rubber Company for $3,630 plus a freight charge of $219, Invoice 1785 , dated July 17 ; terms are 1/15,n/60. 28 Received Credit Memorandum 223 for $380 from Dunn Rubber Company for damaged hoses that were returned; the goods were purchased on Invoice 1785, dated July 17. 31 Purchased lawn sprinkler systems for $10,260 plus a freight charge of $273 from Warren Industrial Products, Invoice 8985, dated July 26; the terms are 2/10,n/30. Problem 8.3A Part II Required: 1. Set up an accounts payable subsidiary ledger for The Old English Garden Shop. Open an account for each of the creditors listed below and enter the balances as of July 1. 2. Post the individual entries from the purchases journal and the general journal prepared in Part I. 3. Prepare a schedule of accounts payable for July 31,201. 4. Check the total of the schedule of accounts payable against the balance of the Accounts Payable account in the general ledger. The two amounts should be equal. Analyze: What total freight charges were posted to the general ledger for Complete this question by entering your answers in the tabs below. Enter the opening balances as on July 1 and the aboye transactions on the accounts payable subsidiary ledger for The Old English Garden Shop

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