On January 12, JumpStart Co. purchased $870 in office supplies.

(a) Journalize this transaction as if JumpStart paid cash.

(b) (1) Journalize this transaction as if JumpStart purchased the supplies on account.

(b) (2) On January 18, JumpStart pays the amount due. Journalize this event.

Question

On January 12, JumpStart Co. purchased $870 in office supplies.
​
(a) Journalize this transaction as if JumpStart paid cash.
​
(b) (1) Journalize this transaction as if JumpStart purchased the supplies on account.
​
(b) (2) On January 18, JumpStart pays the amount due. Journalize this event.

Quizplus · Accepted Answer

The Answer of On January 12, JumpStart Co. purchased $870 in office supplies.
​
(a) Journalize this transaction as if JumpStart paid cash.
​
(b) (1) Journalize this transaction as if JumpStart purchased the supplies on account.
​
(b) (2) On January 18, JumpStart pays the amount due. Journalize this event.