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On February 11, 2049, Quick Fox Company purchased $2,960 of supplies on account. In Quick Fox's chart of accounts, the supplies account is No. 15.
On February 11, 2049, Quick Fox Company purchased $2,960 of supplies on account. In Quick Fox's chart of accounts, the supplies account is No. 15. and the accounts payable account is No. 21. a. Journalize and insert the posting reference for the February 11, 2019, transaction on page 73 of Quick Fix Company's two-column journal. If an amount box does not require an entry, leave it blank Page 73 POST. ACCOUNT TITLE DATE DEBIT CREDIT REF. 1 2/11/2019 1 2 b. & d. Enter a debit balance of $1,420 as of February 1, 2019. Place a check mark (V) in the Posting Reference column. Post and insert the posting reference for the February 11, 2019, transaction to the account. If an amount box does not require an entry, leave it blank. GENERAL LEDGER Account Supplies Account No. 15 BALANCE ITEM DEBIT CREDIT DEBIT CREDIT DATE POST REF. 2/1/2049 Balance 2/11/2019 c. & d. Enter a credit balance of $21,080 as of February 1, 2049. Place a check mark (/) in the Posting Reference column. Post and insert the posting reference for the February 11, 2019, transaction to the account. If an amount box does not require an entry, leave it blank. GENERAL LEDGER Account Accounts Payable Account No. 21 BALANCE POST. DATE DEBIT CREDIT DEBIT CREDIT ITEM REF. Previous Net Check My Work c. & d. Enter a credit balance of $21,080 as of February 1, 2019. Place a check mark() in the Posting Reference column. Post and Insert the posting reference for the February 11, 2049, transaction to the account. If an amount box does not require an entry, leave it blank. GENERAL LEDGER Account Accounts Payable Account No. 21 POST BALANCE DATE ITEM DEBIT REF. CREDIT DEBIT CREDIT 2/1/2049 Balance 2/11/2019 e. Do the rules of debit and credit apply to all companies
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