Prepare a journal entry for the purchase of office Supplies on March 9 for $1,775, paying $275 cash and the remainder on account. Refer to the Chart of Accounts for exact wording of account titles.
Prepare a journal entry for the purchase of office Supplies on March 9 for $1,775, paying $275 cash and the remainder on account. Refer to the Chart of Accounts for exact wording of account titles.
CHART OF ACCOUNTS |
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General Ledger |
| ASSETS | 11 | Cash | 12 | Accounts Receivable | 13 | Office Supplies | 14 | Prepaid Insurance | 15 | Land | 16 | Office Equipment | 17 | Automobiles | | LIABILITIES | 21 | Accounts Payable | 22 | Unearned Rent | 23 | Notes Payable | 24 | Salaries Payable | | EQUITY | 31 | Common Stock | 32 | Retained Earnings | 33 | Dividends | | | REVENUE | 41 | Fees Earned | 42 | Sales Commission | | EXPENSES | 51 | Advertising Expense | 52 | Automobile Expense | 53 | Insurance Expense | 54 | Rent Expense | 55 | Salary Expense | 56 | Supplies Expense | 57 | Utilities Expense | 58 | Misce Prepare a journal entry for the purchase of office Supplies on March 9 for $1,775, paying $275 cash and the remainder on account. Refer to the Chart of Accounts for exact wording of account titles. PAGE 1 JOURNAL ACCOUNTING EQUATION | DATE | DESCRIPTION | POST. REF. | DEBIT | CREDIT | ASSETS | LIABILITIES | EQUITY | 1 | | | | | | | | | 2 | | | | | | | | | 3 | | | | | | | | | | |