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Problem Solving Survival Guide to accompany Financial Accounting, 8th Edition by Donald E. Kieso, Paul D. Kimmel, Jerry J. Weygandt

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EXERCISE F-1

Purpose: (L.O. 1) This exercise will test your understanding of the postings that appear in a subsidiary ledger.

Presented below is the account for the vendor, Kitchen Plastics Company, as it appears in the accounts payable subsidiary ledger of Great Value Hardware.

KITCHEN PLASTICS COMPANY

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Instructions

Explain each amount reflected in this subsidiary ledger account.

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