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    dantes234's Avatar
    dantes234 Posts: 3, Reputation: 1
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    #1

    Jan 26, 2009, 04:56 PM
    Adjusting Entries
    The balance in accounts payable is $122,400. Included in this amount is $10,400 if advance deposits made by X Co. on future purchases
    ROLCAM's Avatar
    ROLCAM Posts: 1,420, Reputation: 23
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    #2

    Jan 26, 2009, 05:32 PM
    DR Accounts Payable Account-----------------10,400
    CR Purchases Account-----------------------------------10,400

    Being the amount of purchases paid in advance.
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