Journalizing and Posting On September 18, 20Y4, Carbon Company purchased $8,710 of supplies on account. In Carbon Companys chart of accounts, the supplies account is No. 15, and the accounts payable account is No. 21. Question Content Area a. Journalize the September 18,20Y4, transaction on page 87 of Carbon Companys two-column journal. If an amount box does not require an entry, leave it blank. Page: 87 DATE DESCRIPTION POST. REF. DEBIT CREDIT Sept. 18, 20Y4 Supplies Supplies Supplies blank - Select - - Select - - Select - Feedback Area Feedback a. First, identify what account is used and then what type of account is used. Every account is either an asset, liability, owner's equity, drawing, revenue, or expense account. Then determine whether the account increases or decreases. Each increase or decrease is recorded as a debit or credit following the rules of debit and credit. Remember total debits should equal total credits in your entry. Question Content Area b. and d. Enter a debit balance of $2,960 as of September 1, 20Y4 in the supplies general ledger account. Place a check mark () in the Posting Reference column. Post the September 18, 20Y4, transaction to the account. For those boxes in which no entry is required, leave the box blank. GENERAL LEDGER Account Supplies Account No. 15 DATE ITEM POST. REF. DEBIT CREDIT BALANCE DEBIT CREDIT Sept. 1, 20Y4 Balance fill in the blank 7170defe801cf96_2 fill in the blank 7170defe801cf96_3 fill in the blank 7170defe801cf96_4 fill in the blank 7170defe801cf96_5 Sept. 18, 20Y4 blank fill in the blank 7170defe801cf96_6 fill in the blank 7170defe801cf96_7 fill in the blank 7170defe801cf96_8 fill in the blank 7170defe801cf96_9 fill in the blank 7170defe801cf96_10 Feedback Area Feedback b. See the illustration in Exhibit 5 in the text. Every account is in the ledger, which usually uses a formal 4-column account presentation rather than T accounts. d. Transfer the information from the journal entry to each appropriate account in the ledger. Question Content Area c. and d. Enter a credit balance of $38,400 as of September 1, 20Y4 in the Accounts Payable general ledger account. Place a check mark () in the Posting Reference column. Post the September 18, 20Y4, transaction to the account. For those boxes in which no entry is required, leave the box blank. GENERAL LEDGER Account Accounts Payable Account No. 21 DATE ITEM POST. REF. DEBIT CREDIT BALANCE DEBIT CREDIT Sept. 1, 20Y4 Balance fill in the blank 3dee90fc0f98050_2 fill in the blank 3dee90fc0f98050_3 fill in the blank 3dee90fc0f98050_4 fill in the blank 3dee90fc0f98050_5 Sept. 18, 20Y4 blank fill in the blank 3dee90fc0f98050_6 fill in the blank 3dee90fc0f98050_7 fill in the blank 3dee90fc0f98050_8 fill in the blank 3dee90fc0f98050_9 fill in the blank 3dee90fc0f98050_10 Feedback Area Feedback c. See the illustration in Exhibit 5 in the text. Every account is in the ledger, which usually uses a formal 4-column account presentation rather than T accounts. d. Transfer the information from the journal entry to each appropriate account in the ledger. Question Content Area e. Do the rules of debit and credit apply to all companies