On September 18 2019 Afton Company purchased 2475 of supplie

On September 18, 2019, Afton Company purchased $2,475 of supplies on account. In Afton Company’s chart of accounts, the supplies account is No. 15, and the accounts payable account is No. 21.

A. Journalize the September 18, 2019, transaction on page 87 of Afton Company’s two-column journal.

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PAGE 87

JOURNAL

ACCOUNTING EQUATION

Score: 27/27

B. Prepare a four-column account for Supplies. Enter a debit balance of $840 as of September 1, 2019. Enter “Balance” in the Item column and place a check mark (?) in the Posting Reference column.

C. Prepare a four-column account for Accounts Payable. Enter a credit balance of $10,900 as of September 1, 2019. Enter “Balance” in the Item column and place a check mark (?) in the Posting Reference column.

D. Post the September 18, 2019, transaction to the accounts.

Question not attempted.

LEDGER

Score: 0/44

Account: Supplies15Account No.

Account: Accounts Payable21Account No.

	Required:
A.	Journalize the September 18, 2019, transaction on page 87 of Afton Company’s two-column journal.
B.	Prepare a four-column account for Supplies. Enter a debit balance of $840 as of September 1, 2019. Enter “Balance” in the Item column and place a check mark (?) in the Posting Reference column.
C.	Prepare a four-column account for Accounts Payable. Enter a credit balance of $10,900 as of September 1, 2019.. Place a check mark (?) in the Posting Reference column. Enter “Balance” in the Item column and place a check mark (?) in the Posting Reference column.
D.	Post the September 18, 2019, transaction to the accounts.
E.	Do the rules of debit and credit apply to all companies?

D. Posting of Sept 18 entry

E. Yes rules of debit and credit apply to all companies.

Date	Particulars	L.F	Amount ($)	Amount ($)
2019
Sep-18	Supplies		2,475
	Accounts Payable			2,475
	(For supplies purchased on account)

On September 18, 2019, Afton Company purchased $2,475 of supplies on account. In Afton Company’s chart of accounts, the supplies account is No. 15, and the acco

On September 18 2019 Afton Company purchased 2475 of supplie

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