Kenneth Dolkart Optical Dispensary purchased supplies on account for $3,400. Two weeks later, the business paid half

Question:

Kenneth Dolkart Optical Dispensary purchased supplies on account for $3,400. Two weeks later, the business paid half on account.
Requirements
1. Journalize the two transactions for Kenneth Dolkart Optical Dispensary. Include an explanation for each entry.
2. Open the T-account and post to Compute the balance, and denote it as Bal.

Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive...