Lester Company Uses Special Journals to Record Transactions

question 24

Not Answered

Lester Company uses special journals to record transactions. All of the companies listed below supply inventory to Lester except Harry Co. that supplies equipment. Use the purchases journal given below to answer the following questions:
a. Foot and crossfoot the journal for accuracy. b. Identify the error and indicate how to correct the error.
c. When Lester compares the general ledger Accounts Payable account to the Accounts Payable ledger, it notices that the general ledger control account is $10,000 more that the schedule of Accounts Payable. What is the most likely cause and how should it be corrected?

---

Definitions:

Self-Esteem

An individual's subjective evaluation of their own worth or value.

Control Behavior

The actions or practices aimed at regulating, managing, or commanding the conduct of individuals or groups.

Playing Tennis

Engaging in a sport involving two or four players who use rackets to hit a ball over a net, aiming to score points against opponents.

Unique Potential

An individual's distinct capabilities and talents that, when fully realized, can lead to their highest level of performance and personal satisfaction.