On October 3, 2018, Regal Company purchased $3,600 of supplies on account In Regal 's chart of accounts, the supplies account is No 15, and the accounts payable account is No 21 A Journalize the October 3, 2018, transaction on page 91 of Regal Company 's two column journal Include an explanation of...

A 91 JOURNAL Page Post Date Description Ref Debit Credit 2018 Oct 3 Supplies 15 ...

On October 3, 2018, Regal Company purchased $3,600 of supplies on account. In Regal's chart of accounts,

Question:

On October 3, 2018, Regal Company purchased $3,600 of supplies on account. In Regal's chart of accounts, the supplies account is No. 15, and the account is No. 21.
A. Journalize the October 3, 2018, transaction on page 91 of Regal Company's two-column journal. Include an explanation of the entry.
B. Prepare a four-column account for Supplies. Enter a debit balance of $770 as of October 1, 2018. Place a check mark () in the Posting Reference column.
C. Prepare a four-column account for Enter a credit balance of $26,200 as of October 1, 2018. Place a check mark () in the Posting Reference column.
D. Post the October 3, 2018, transaction to the accounts.
E. jgassasmf Do the rules of debit and credit apply to all companies?
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...