The debits and credits from two transactions are presented in the following creditor’s (supplier’s) account:
NAME Migrant Technology
ADDRESS 2199 Commerce Place
Date Item
Post.
Ref. Debit Credit Balance
Nov. 1 Balance ✓ 9,400
11 Invoice No. 85 P81,845 11,245
22 Invoice No. 43 CP46 3,270 7,975
Describe each transaction and the source of each posting.
Answers:
Nov.
11. Made purchases of $1,845 on account from Migrant Technology (Invoice No. 85). Amount posted from Page 8 of the purchases journal.
22. Paid $3,270 to Migrant Technology on account (Invoice No. 43). Amount posted from Page 46 of the cash payments journal.