On February 11, 20Y9, Quick Fix Company purchased $2,700 of supplies on account. In Quick Fix's...
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On February 11, 20Y9, Quick Fix Company purchased $2,700 of supplies on account. In Quick Fix'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, 20Y9, 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. DATE 1 2/11/20Y9 ACCOUNT TITLE DEBIT CREDIT REF. 1 2 2 b. & d. Enter a debit balance of $1,300 as of February 1, 20Y9. Place a check mark () in the Posting Reference column. Post and insert the posting reference for the February 11, 20Y9, transaction to the account. If an amount box does not require an entry, leave it blank. Account Supplies GENERAL LEDGER POST. Account No. 15 BALANCE DATE ITEM DEBIT CREDIT REF. DEBIT CREDIT 2/1/20Y9 Balance O 2/11/20Y9 c. & d. Enter a credit balance of $19,220 as of February 1, 20Y9. Place a check mark () in the Posting Reference column. Post and insert the posting reference for the February 11, 20Y9, transaction to the account. If an amount box does not require an entry, leave it blank. GENERAL LEDGER Account Accounts Payable DATE ITEM 2/1/20Y9 Balance 2/11/20Y9 Account No. 21 POST. BALANCE DEBIT CREDIT REF. DEBIT CREDIT e. Do the rules of debit and credit apply to all companies? On February 11, 20Y9, Quick Fix Company purchased $2,700 of supplies on account. In Quick Fix'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, 20Y9, 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. DATE 1 2/11/20Y9 ACCOUNT TITLE DEBIT CREDIT REF. 1 2 2 b. & d. Enter a debit balance of $1,300 as of February 1, 20Y9. Place a check mark () in the Posting Reference column. Post and insert the posting reference for the February 11, 20Y9, transaction to the account. If an amount box does not require an entry, leave it blank. Account Supplies GENERAL LEDGER POST. Account No. 15 BALANCE DATE ITEM DEBIT CREDIT REF. DEBIT CREDIT 2/1/20Y9 Balance O 2/11/20Y9 c. & d. Enter a credit balance of $19,220 as of February 1, 20Y9. Place a check mark () in the Posting Reference column. Post and insert the posting reference for the February 11, 20Y9, transaction to the account. If an amount box does not require an entry, leave it blank. GENERAL LEDGER Account Accounts Payable DATE ITEM 2/1/20Y9 Balance 2/11/20Y9 Account No. 21 POST. BALANCE DEBIT CREDIT REF. DEBIT CREDIT e. Do the rules of debit and credit apply to all companies?
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