Question
9/18- You purchased computer software on account from Accounting-is-Fun. The purchase price was $900. Terms are a $30 flat rate monthly service charge on any
9/18- You purchased computer software on account from Accounting-is-Fun. The purchase price was $900. Terms are a $30 flat rate monthly service charge on any remaining balance after 30 days. ( Record purchase of computer software to Supplies on Hand account).
10/10- You made a $300 payment with check #114 on your balance with Accounting-is-Fun.
11/10- You made a $320 payment with check #127 on your balance with Accounting-is-Fun.
I need the general journal entries for these transactions. Which ones are debit and credit. The chart account entries are Cash, Accounts Payable, Supplies on Hand and not sure about the other ones. Thank you.
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