On September 18, 2019, Afton Company purchased $2,475 of supplies on account In Afton Company 's chart of accounts, the supplies account is No 15, and the accounts payable account is No 21 a Journalize the September 18, 2019, transaction on page 87 of Afton Company 's two column journal Include an ...

a JOURNAL Page 87 Date Description Post Ref Debit Credit 2019 Sept 18 Supplies 15 ...

On September 18, 2019, Afton Company purchased $2,475 of supplies on account. In Afton Company's chart of

Question:

On September 18, 2019, Afton Company purchased $2,475 of supplies on account. In Afton Company's chart of accounts, the supplies account is No. 15, and the account is No. 21.
a. Journalize the September 18, 2019, transaction on page 87 of Afton Company's two column journal. Include an explanation of the entry.
b. Prepare a four-column account for Supplies. Enter a debit balance of $840 as of
September 1, 2019. Place a check mark in the Posting Reference column.
c. Prepare a four-column account for Enter a credit balance of $10,900 as of September 1, 2019. Place a check mark in the Posting Reference column.
d. Post the September 18, 2019, transaction to the accounts.
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...