On September 18, 2019, Afton Company purchased $2,475 of supplies on account In Afton Companys chart of accounts, the supplies account is No 15, and the accounts payable account is No 21 Required A Journalize the September 18, 2019, transaction on page 87 of Afton Companys two column journal B Prepare a four column account for Supplies Enter a debit balance of $840 as of September 1, 2019 Enter Balance in the Item column and place a check mark ( ) in the Posting Reference column C Prepare a four column account for Accounts Payable Enter a credit balance of $10,900 as of September 1, 2019 Place a check mark ( ) in the Posting Reference column Enter Balance in the Item column and place a check mark ( ) in the Posting Reference column D Post the September 18, 2019, transaction to the accounts E Do the rules of debit and credit apply to all companies CHART OF ACCOUNTS Afton Company General Ledger ASSETS 11 Cash 12 Accounts Receivable 13 Land 14 Prepaid Rent 15 Supplies 16 Equipment 17 Automobiles LIABILITIES 21 Accounts Payable 22 Unearned Rent 23 Notes Payable 24 Salaries Payable EQUITY 31 Cammy Jardine, Capital 32 Cammy Jardine, Drawing REVENUE 41 Fees Earned 42 Sales Commission EXPENSES 51 Advertising Expense 52 Automobile Expense 53 Insurance Expense 54 Rent Expense 55 Wages Expense 56 Supplies Expense 57 Utilities Expense 58 Miscellaneous Expense A Journalize the September 18, 2019, transaction on page 87 of Afton Companys two column journal How does grading work PAGE 87 JOURNAL ACCOUNTING EQUATION Score 27 27 DATE DESCRIPTION POST REF DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 2 B Prepare a four column account for Supplies Enter a debit balance of $840 as of September 1, 2019 Enter Balance in the Item column and place a check mark ( ) in the Posting Reference column C Prepare a four column account for Accounts Payable Enter a credit balance of $10,900 as of September 1, 2019 Enter Balance in the Item column and place a check mark ( ) in the Posting Reference column D Post the September 18, 2019, transaction to the accounts Question not attempted LEDGER Score 0 44 Account Supplies15Account No DATE ITEM POST REF DEBIT CREDIT BALANCE DEBIT CREDIT 1 2 Account Accounts Payable21Account No DATE ITEM POST REF DEBIT CREDIT BALANCE DEBIT CREDIT 1 2

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On September 18, 2019, Afton Company purchased $2,475 of supplies on account. In Afton Companys chart of accounts, the supplies account is No. 15, and

On September 18, 2019, Afton Company purchased $2,475 of supplies on account. In Afton Companys chart of accounts, the supplies account is No. 15, and the accounts payable account is No. 21.

	Required:
A.	Journalize the September 18, 2019, transaction on page 87 of Afton Companys two-column journal.
B.	Prepare a four-column account for Supplies. Enter a debit balance of $840 as of September 1, 2019. Enter Balance in the Item column and place a check mark (?) in the Posting Reference column.
C.	Prepare a four-column account for Accounts Payable. Enter a credit balance of $10,900 as of September 1, 2019.. Place a check mark (?) in the Posting Reference column. Enter Balance in the Item column and place a check mark (?) in the Posting Reference column.
D.	Post the September 18, 2019, transaction to the accounts.
E.	Do the rules of debit and credit apply to all companies?

CHART OF ACCOUNTS

Afton Company

General Ledger

	ASSETS
11	Cash
12	Accounts Receivable
13	Land
14	Prepaid Rent
15	Supplies
16	Equipment
17	Automobiles

	LIABILITIES
21	Accounts Payable
22	Unearned Rent
23	Notes Payable
24	Salaries Payable

	EQUITY
31	Cammy Jardine, Capital
32	Cammy Jardine, Drawing

	REVENUE
41	Fees Earned
42	Sales Commission

	EXPENSES
51	Advertising Expense
52	Automobile Expense
53	Insurance Expense
54	Rent Expense
55	Wages Expense
56	Supplies Expense
57	Utilities Expense
58	Miscellaneous Expense

A. Journalize the September 18, 2019, transaction on page 87 of Afton Companys two-column journal.

How does grading work?

PAGE 87

JOURNAL

ACCOUNTING EQUATION

Score: 27/27

	DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT	ASSETS	LIABILITIES	EQUITY
1	?	?	?	?		?
2		?	?		?		?

B. Prepare a four-column account for Supplies. Enter a debit balance of $840 as of September 1, 2019. Enter Balance in the Item column and place a check mark (?) in the Posting Reference column.

C. Prepare a four-column account for Accounts Payable. Enter a credit balance of $10,900 as of September 1, 2019. Enter Balance in the Item column and place a check mark (?) in the Posting Reference column.

D. Post the September 18, 2019, transaction to the accounts.

Question not attempted.

LEDGER

Score: 0/44

Account: Supplies15Account No.