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Silbert Sullivan Optical Dispensary completed the following transactions during the latter part of March: Mar. 15 Purchased office supplies on account, $3,800 28 Paid $1,200
Silbert Sullivan Optical Dispensary completed the following transactions during the latter part of March: Mar. 15 Purchased office supplies on account, $3,800 28 Paid $1,200 on account Read the requirements. Requirement 1. Journalize the transactions of Gilbert Sullivan Optical Dispensary. Include an explanation with each journal entry. (Record debits first, then credits. Select the explanation on the last line of the Journal entry table.) Mar. 15. Purchased office supplies on account, $3,800 Date Accounts and Explanation Debit Credit Mar. 15 Mar. 28: Paid $1.200 on account. Date Accounts and Explanation Debit Credit Mat. 28 Requirement 2. The following T-accounts have been opened for you: Cash (Beginning Balance of $15,000), Office Supplies and Accounts Payable Post the journal entries from Requirement 1 to the accounts. and compute the balance in each account. (Use a "Bal" posting reference on the proper side of each account to show the ending balances of the accounts.) Cash Accounts Payable Bal 15.000 Office Supplies
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