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On February 1 1 , 2 0 Y 9 , Quick Fix Company purchased $ 2 , 2 5 0 of supplies on account. In
On February Y Quick Fix Company purchased $ of supplies on account. In Quick Fix's chart of accounts, the supplies account is No and the accounts payable account is Nc
a Journalize and insert the posting reference for the February transaction on page of Quick Fix Company's twocolumn journal. If an amount box does not require an entry, le
JOURNAL
Page:
b and d Prepare a fourcolumn account for supplies. Enter a debit balance of $ as of February Y Place a check mark in the Posting Reference column. Post and insert the I
February Y transaction to the accounts. If an amount box does not require an entry, leave it blank.
GENERAL LEDGER
Account: Supplies
Account No
c and d Prepare a fourcolumn account for Accounts payable. Enter a credit balance of $ as of February Y Place a check mark in the Posting Reference column. Post
reference for the February transaction to the account. If an amount box does not require an entry, leave it blank.
GENERAL LEDGER
Account: Accounts Payable
Account No
e Do the rules of debit and credit apply to all companies?
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