Answer:
Supplies 2,475 debit
Account Payables 2,475 credit
Supplies Transactions Balance
DEBIT CREDIT DEBIT CREDIT
Sep 1st -- -- 840 --
Sep 18th 2,475 3,315
Acc. Payable Transactions Balance
DEBIT CREDIT DEBIT CREDIT
Sep 1st -- -- -- 10,900
Sep 18th 2,475 13,375
The rules of debit and credit applies to all companies. If company's for incompetence or lack of moral qualms do not follow these rules the result of the accounting will be tained and not useful for the decision making process until the mistakes or ommision are fixed.
Explanation:
The firs is the journal entry.
We debit the supplies as they are assets
and credit the account payable which is a liability.
Then the four column stand for the ledger.
We post the transaction of each account and the balance after the event occur