(L. OBJ. 3, 4) Journalizing transactions and posting to T-accounts [10—15 min]
Nancy Carpenter Optical Dispensary purchased supplies on account for $1,200. Two weeks later, the business paid half on account.
Requirements
1. Journalize the two transactions for Nancy Carpenter Optical Dispensary. Include an explanation for each entry.
2. Open the Accounts payable T-account and post to Accounts payable. Compute the balance, and denote it as Bal.
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