Expert answer:I need help with an accounting assignment

Answer & Explanation:To prove that the subsidiary ledger agrees with the Accounts Payable controlling account balance, complete a A. debit memorandum.B. schedule of accounts payable.C. purchase order.D. schedule of accounts receivable.On June 15, Paradise Park purchased merchandise for the racetrack. The invoice was for $4,500, terms 2/10, n/30. On June 20, Paradise Park returned 0 of merchandise for credit. On June 25, it paid the amount owed. The debit to Purchases on June 15 is  A. $4,214.00.   B. $4,786.00.   C. $4,300.00.   D. $4,500.00.On November 30, Janoch’s Dog Kennel purchased $600 of merchandise on account from the Ganster Company. The goods were shipped F.O.B. shipping point. The freight charge of $40 was paid by Ganster Company and added to the invoice. The amount to record in the Purchases account is  A. $600.   B. $640.   C. $560.   D. $550.When merchandise is bought for resale, which account would be decreased?  A. Store Equipment   B. Purchases   C. Cash   D. CapitalThe entry to record a payment on a $600 account within the 2% discount period would include a  A. debit to Accounts Payable for $588.   B. debit to Accounts Payable for $600.   C. credit to Purchases for $588.   D. debit to Cash for $600.The entry to record returned merchandise to Vans Company is which of the following?  A. Debit Purchases Returns and Allowances; credit Accounts Payable in the general ledger   B. Debit Accounts Payable; credit Purchases   C. Debit Accounts Payable/Vans Company in the accounts payable subsidiary ledger; debit Accounts Payable in the general ledger; credit Purchases Returns and Allowances   D. Debit Purchases; credit Accounts PayableA debit memorandum increases which account on the buyer’s books?  A. Accounts Payable   B. Purchases Returns and Allowances   C. Sales Returns and Allowances   D. Accounts Receivable

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