Given the following partial chart of accounts:

Cash $(110),$ Accounts Receivable $(111),$ Supplies $(112),$ and Accounts Payable $(210)$

Complete a transaction analysis chart and journal entry from the following transaction:

June $30,201$ Logan Co$.$ purchased supplies for $$1,600,$ paying $$500$ down and the balance due next month.

Begin by completing the transaction analysis chart.

$\backslash$table$[[$Accounts Affected,Category,Increase or Decrease,$\backslash$table$[[$Rule of Debit or$],[$Credit$]],\backslash$table$[[$Amount of$],[$Debit or$],[$Credit$]]],[$Supplies$,$Asset,Increase,Debit,$$,1,600],[$Cash$,$Asset,Decrease,Credit,$$,{500}^{\text{'}}$