Journalize the transactions of Roland Foster optical Dispensary. Include an explanation with each journal entry. (Record first, then credits.Select the explanation on the last line of the journal entry table.)Mar. 15"Accounts & Explanation"Line 1.Accounts payable-or-Accounts receivable-or-Cash-or-Office expenses-or-Office suppliesLine 2.Accounts payable-or-Accounts receivable-or-Cash-or-Office expenses-or-Office suppliesLine 3.Accounts payable-or-Accounts receivable-or-Cash-or-Office expenses-or-Office suppliesLine 4.Accounts payable-or-Accounts receivable-or-Cash-or-Office expenses-or-Office suppliesLine 5.Paid cash on account-or-Performed service for customers on account-or-Purchased office supplies on account-or-Received cash on account from customers Roland Foster Optical Dispensary completed the following transactions during the latter part of March:Mar. 15Purchased office supplies on account, $3,400Mar. 28Paid $1,800 on account.Read the requirements.Requirement 1. Journalize the transactions of Roland Foster 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, $3,400.DateAccounts and ExplanationDebitCreditMar. 15Paid cash on account.Performed service for customers on account.Purchased office supplies on account.Received cash on account from customers. i Requirements1. Journalize the transactions of Roland Foster Optical Dispensary. Include anexplanation with each journal entry.2. The following T-accounts have been opened for you: Cash (BeginningBalance of $21,000), Office Supplies, and ACcounts Payable. Post the jourmalentries from Requirement 1 to the accounts, and compute the balance ineach account.PrintDone

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Answered: Journalize the transactions of Roland…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 15PA: Prepare journal entries to record the following transactions. Create a T-account for Accounts...

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Journalize the transactions of Roland Foster optical Dispensary. Include an explanation with each journal entry. (Record first, then credits. Select the explanation on the last line of the journal entry table.) Mar. 15 "Accounts & Explanation" Line 1. Accounts payable -or- Accounts receivable -or- Cash -or- Office expenses -or- Office supplies Line 2. Accounts payable -or- Accounts receivable -or- Cash -or- Office expenses -or- Office supplies Line 3. Accounts payable -or- Accounts receivable -or- Cash -or- Office expenses -or- Office supplies Line 4. Accounts payable -or- Accounts receivable -or- Cash -or- Office expenses -or- Office supplies Line 5. Paid cash on account -or- Performed service for customers on account -or- Purchased office supplies on account -or- Received cash on account from customers

Roland Foster Optical Dispensary completed the following transactions during the latter part of March:
Mar. 15
Purchased office supplies on account, $3,400
Mar. 28
Paid $1,800 on account.
Read the requirements.
Requirement 1. Journalize the transactions of Roland Foster 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, $3,400.
Date
Accounts and Explanation
Debit
Credit
Mar. 15
Paid cash on account.
Performed service for customers on account.
Purchased office supplies on account.
Received cash on account from customers.

i Requirements
1. Journalize the transactions of Roland Foster Optical Dispensary. Include an
explanation with each journal entry.
2. The following T-accounts have been opened for you: Cash (Beginning
Balance of $21,000), Office Supplies, and ACcounts Payable. Post the jourmal
entries from Requirement 1 to the accounts, and compute the balance in
each account.
Print
Done

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