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20   BOOKKEEPING 29. Ledger for Bills Payable Account.

DR.   (we received back)   BILLS PAYABLE.   (we gave)   CR.

19

 

 

 

 

 

19

 

 

 

 

 

Mar.

18

 

19

200

 

Mar.

 

 

19

100

 

 

23

 

19

150

 

 

1

 

19

200

 

 

30

 

19

175

 

 

4

 

19

150

 

 

 

 

 

585

 

 

8

 

19

175

 

 

 

 

 

 

 

 

20

 

19

225

50

 

 

 

 

 

 

27

 

 

850

50

Exercise No. 14.

Write the notes and acceptances on April 1, 12 and 27. Journalize; post, balance, and close Bills Payable Account, making it a continuation of the account in Ex. No. 13. What is the balance called 4

Woodstock, April 1, 19-. Bought from J. Robb, Brantford, on our note at 20 days, Mdse. $125.50.

4. Paid our note of March 1 in cash, $100.

12. Gave our acceptance at 15 days for $200, to B. Smith, Ingersoll, on account.

18. Paid our note of Mar. 27 in cash, $225.50.

24. Settled our note of April 1 in cash, $125.50.

27. Bought from K. Spiers, Hamilton, on our acceptance at 10 days, Mdse. $170.25.

30. Paid our acceptance of April 12 in cash, $200.

Exercise No. 15.

Write the notes and acceptances on May 1, 7, 18, 28. Journalize; post Bills Payable Account, leaving room to continue with Ex. No. 16. What is the balance 1

Montreal, May 1, 19-. Pupil (Proprietor) has a note outstanding, dated April 11, at 30 days for $110, favour of R. Proctor. The business assumes this note. (Bills Pay. Cr.) 7. Accepted draft drawn by B. Preston, Quebec, at 10 days for $80.

14. Paid note favour of R. Proctor in cash, $110.

18. Bought from N. Prior, Ottawa, on my acceptance at 10 days, Mdse. $120.50. 20. Paid my acceptance of May 7 in cash, $80.

28. Gave P. Spence on account my note at 1 month for $30.

31. Settled my acceptance of May 18 in cash, $120.50.

Exercise No. 16.

Journalize; post, balance, and close Bills Payable Account, making it a continuation of the account in Ex. No. 15.

Montreal, June 1, 19-. Bought from P. Spence on my note at 10 days, Mdse. $75.60. 6. Accepted R. Proctor's draft at 15 days for $130, on account.

14. Paid my note favour of P. Spence in cash, $75.60.

17. Gave N. Prior on account my note at 30 days for $65.

24. Paid my acceptance of June 6 in cash, $130.

29. Bought from C. Rogers on my note at 10 days, Mdse. $35.


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