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    lilies99's Avatar
    lilies99 Posts: 1, Reputation: 1
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    #1

    Oct 30, 2007, 10:55 AM
    Jouranlizing transactions
    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's Avatar
    occupant16444 Posts: 5, Reputation: 1
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    #2

    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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