Architect Harvey Holman purchased supplies on account for $5,200. Later, Holman paid $3,120 on account. 1. Journalize the two transactions on the books of Harvey Holman, Architect. Include an explanation for each transaction. 2. The Accounts Payable T-account has been opened for you. Post the transactions to the T-account and compute the balance. 3. How much does the Holman's business owe after both transactions? In which account does this amount appear? Later, Holman paid $3,120 on account Journal Entry Accounts and Explanations Debit Credit 2 Accounts Payable Cash 3,120 3,120 Paid cash on account. 2. The Accounts Payable T-account has been opened for you. Post the transactions to the T-account and compute the balance. (Leave any unused cells blank.) Accounts Payable 2,080 Bal Choose from any list or enter any number in the input fields and then click Check