Question

Harris, Inc. incurred the following transactions during the month of February. Record the appropriate ones in the cash payments journal. Include posting references. A. On February 3, the company purchased $650 worth of supplies on account. The supplies account number is 15. B. On February 5, Harris, Inc. made a payment on account to Sanders Industries in the amount of $1,215 (Check No. 2214). C. On February 14, Harris, Inc. bought a one-year insurance policy for $1,500. The prepaid insurance account number is 14 (Check No. 2215). D. On February 22, Harris, Inc. paid monthly rent of $2,000. The rent expense account number is 63 (Check No. 2216). E. On February 26, Harris, Inc. purchased equipment making a down payment of $3,000 (Check No. 2217) and agreeing to pay the $4,000 balance in 30 days. The equipment account number is 18. If an amount box does not require an entry, leave it blank.Date Account CK. No. Post. Other Accounts CashDebited Ref. Accounts DR. Payable DR. CR.1 ✓ 12 23 34 4

Answer 1

Answer: The answer has been attached below

Explanation:

A journal entry is the act of making records of any transactions. The transactions are listed in a way that shows the company's debit and credit balances.

It should be noted that:

February 3, the journal entry was recorded in supplies account debit ($650) and the account payable credit ($650).

February 26, the journal entry was recorded in equipment account debit was ($3000 + $4000) and the cash account credit ($3000) and the account payable credit ($4000).

Further entries has been recorded in the attached document.