At the End of September 2019 and Before the Purchases $\begin{array}{l|l}\text { Accounts Payable } &{\$ 6,380} \\\hline \text { Purchases } & 2,530 \\\hline \text { Freight In } & 0\end{array}$

question 52

Short Answer

At the end of September 2019 and before the purchases journal was posted, selected general ledger account balances for Paper Products were as follows (each account had a normal balance):
$\begin{array}{l|l}\text { Accounts Payable } &{\$ 6,380} \\\hline \text { Purchases } & 2,530 \\\hline \text { Freight In } & 0\end{array}$
The purchases journal had the following totals: Purchases, $18,650; Freight In, $1,620; Accounts Payable, $20,270.
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.

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Definitions:

Annual Period

The annual period is a 12-month timeframe used in financial reporting, planning, and evaluation of a company's performance.