Transcribed Image Text: 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

Transcribed Image Text: 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
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 journal
entries from Requirement 1 to the accounts, and compute the balance in
each account.
Mar. 28: Paid $1,800 on account.
Date
Accounts and Explanation
Debit
Credit
Mar. 28
Print
Done
Requirement 2. The following T-accounts have been opened for you: Cash (Beginning Balance of $21,000), Office Supplies, and Accounts Payable. Post the journal entries from Requirement 1 to the accounts, and compute the balance in each account. (Use a “Bal.” posting reference on the proper side of each account to show
the ending balances of the accounts.)
Cash
Accounts Payable
Bal.
21,000
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