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On September 18, 2019, Afton Company purchased $3,750 of supplies on account. In Afton Company's chart of accounts, the supplies account is No. 15, and

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On September 18, 2019, Afton Company purchased $3,750 of supplies on account. In Afton Company's 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 Company's two-column journal. B. Prepare a four-column account for Supplies. Enter a debit balance of $2,000 as of September 1, 2019. Enter "Balance in the item column and place a check mark (v) in the Posting Reference column. C. Prepare a four-column account for Accounts Payable. Enter a credit balance of $18,890 as of September 1, 2019. Enter "Balance" in the Item column and place a check mark (V) 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

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