Question

1.On January 15, 2016, Bravo Company purchased $1,500 of construction supplies to last for 3 months on account, from the Zulu Company. Prepare Bravo Company's general journal entry (without explanation).

2. On January 15, 2016, Bravo Company purchased $3,000 of construction supplies to last for 3 months, from the Zulu Company. Bravo paid for half of the supplies with cash and the remainder on account.

3. On January 31, 2016, Bravo withdrew $3,000 from the company. Prepare the general journal entry (without explanation) needed.

Answer 1

Requirement – 1, On January 15, 2016, Bravo Company purchased $1,500 of construction supplies to last for 3 months on account,

Date	Account Titles and Explanation	Debit ($)	Credit($)
January 15, 2016	Supplies A/c	$1,500
	To Accounts Payable A/c		$1,500

Requirement – 2, On January 15, 2016, Bravo Company purchased $3,000 of construction supplies to last for 3 months, from the Zulu Company. Bravo paid for half of the supplies with cash and the remainder on account.,

Date	Account Titles and Explanation	Debit ($)	Credit($)
January 15, 2016	Supplies A/c	$3,000
	To Cash A/c		$1,500
	To Accounts Payable A/c		$1,500

Requirement – 3, On January 31, 2016, Bravo withdrew $3,000 from the company.

Date	Account Titles and Explanation	Debit ($)	Credit($)
January 31, 2016	Common Stock A/c	$3,000
	To Cash A/c		$3,000