At the end of February 2013 and before the purchases journal was posted, selected general ledger account balances for Volter Repair Services were as follows (each account had a normal balance): The purchases journal had the following totals: Purchases, $28,000; Freight In, $1,000; Accounts Payable, $29,000.
Calculate the ending balance of each of the three accounts after the posting from the purchases journal. Indicate whether each balance is a debit or credit.

Question

At the end of February 2013 and before the purchases journal was posted, selected general ledger account balances for Volter Repair Services were as follows (each account had a normal balance):  The purchases journal had the following totals: Purchases, $28,000; Freight In, $1,000; Accounts Payable, $29,000.
Calculate the ending balance of each of the three accounts after the posting from the purchases journal. Indicate whether each balance is a debit or credit.

Quizplus · Accepted Answer

The Answer of At the end of February 2013 and before the purchases journal was posted, selected general ledger account balances for Volter Repair Services were as follows (each account had a normal balance):  The purchases journal had the following totals: Purchases, $28,000; Freight In, $1,000; Accounts Payable, $29,000.
Calculate the ending balance of each of the three accounts after the posting from the purchases journal. Indicate whether each balance is a debit or credit.

At the End of February 2013 and Before the Purchases