Nancy Carpenter Optical Dispensary bought supplies on account for $10,000 on September 8. On September 22, the

Question:

Nancy Carpenter Optical Dispensary bought supplies on account for $10,000 on September 8. On September 22, the company paid half on account.
1. Journalize the two transactions for Nancy Carpenter Optical Dispensary. Include an explanation for each transaction.
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...