The Fashion Rack is a retail merchandising business that sells brand-name clothing at discount prices. The firm is owned and managed by Teresa Lojay, who started the business on April 1, 2019. This pr

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The Fashion Rack is a vend merchandising occupation that sells brand-name dress at allowance prices. The decided is owned and managed by Teresa Lojay, who established the occupation on April 1, 2019. This contrivance achieve yield you an convenience to put your apprehension of accounting into exercitation as you use the accounting performance of The Fashion Rack during the month of October 2019.

INSTRUCTIONS

Open the known ledger accounts and invade the counteracts for October 1, 2019. Obtain the expedient figures from the postclosing endeavor counteract prompt on September 30, 2019, which is shown beneath. (If you are using the Study Guide & Working Papers, you achieve invent that the known ledger accounts are already known.)

Open the adminicular ledger accounts and invade the counteracts for October 1, 2019. Obtain the expedient figures from the list of accounts payable and list of accounts receivable prompt on September 30, 2019, which answers beneath. (If you are using the Study Guide & Working Papers, you achieve invent that the adminicular ledger accounts are already known.)

Analyze the negotiations for October and proceedings each negotiation in the appertinent chronicle. (Use 10 as the number for the chief page of each proper chronicle and 16 as the number for the chief page of the known chronicle.)

Post the peculiar entries that compromise customer and lender accounts from the chronicles to the adminicular ledgers on a daily account. Post the peculiar entries that answer in the known chronicle and in the Other Accounts sections of the coin produce and coin payments chronicles to the known ledger on a daily account.

Total, establish, and government the proper chronicles as of October 31, 2019.

Post the support totals from the proper chronicles to the known ledger accounts.

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