Jouranlizing transactions

lilies99 · #1 Oct 30, 2007, 10:55 AM

A company purchased $750.00 in supplies.

Journalize this transaction is if they paid cash.
Journalize this transaction as if they placed it on account.
On Jan.15 they pay the amount due. Journalize this event.

Thanks....

occupant16444 · Oct 30, 2007, 11:46 AM

Cash payment

(Debit) Supplies Expense 750.00
(Credit) Cash 750.00

Charge payment

(Debit) Supplies Exp. 750.00
(Credit) Accounts Payable 750.00

Payment

Accounts Payable 750.00
Cash 750.00



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