Question

Question 2 Sain Advertising Ltd s opening trial balance on January 1 shows Supplies $1,770. On January 11, the company purchased additional supplies tor $1,900 on account. On January 31, there are $1,220 of supplies on hand r supplies on hand Prepare the journal entry to record Uhe purchase of supplies on January 11.(Credit account tities are automali for the anounts ) try is required, select are automatically intended when t he ainourt is entered. Do nol indent marually. If no evn "No Entry" for the accou titles and enter 0 Date Account Titles and Explanation Debit Credit Jan. 11

Accounts Payable Accounts Receivable Accumulated Depreciation - Buildings Accumulated Depreciation - Equipment Accumulated Depreciation - Furniture Accumulated Depreciation - Vehicles Advertising Expense Bank Loan Payable Bank Loan Receivable Buildings Cash Common Shares Depreciation Expense Dividends Declared Equipment Fees Earned Furniture Income Summary Income Tax Expense Income Tax Payable Income Tax Receivable Insurance Expense Insurance Revenue Interest Expense Interest Payable Interest Receivable Interest Revenue Land Mortgage Payable No Entry Notes Receivable Office Expense Prepaid Advertising Prepaid Expense Prepaid Insurance Prepaid Rent Prepaid Services Professional Fees Expense Rent Expense Rent Payable Rent Revenue Repairs and Maintenance Expense Retained Earnings Salaries Expense Salaries Payable Service Revenue Sponsorship Revenue Subscription Revenue Supplies Supplies Expense Ticket Revenue Unearned Revenue Utilities Expense Vehicles

Answer 1

Journal entry

Date	account and explanation	debit	credit
Jan 11	Supplies	1900
	Account payable		1900
	(To record supplies purchased)