Question

Journalize the following entries in a two-column entry: September 11th purchase baking supplies in the amount of $7000 from a vendor on the account. September 10th pay August phone bill ($75)

Answer 1

Date	Account title	Debit $	Credit $
Sep-10	Telephone expense	$            75
	Cash		$            75
	[To record payment of August phone bill]
Sep-11	Baking supplies (or Inventory)	$      7,000
	Accounts payable		$      7,000
	[To record purchase of Baking supplies on account]

For any clarification, please comment. Kindly Up Vote!