on february 3 2012 wilco co purchased 3 250 of supplies 362797

On February 3, 2012, Wilco Co. purchased $3,250 of supplies on account. In Wiko Co.’s chart of accounts, the supplies account in No. 15, and the accounts payable account is No. 21.

(a) Journalize the February 3, 2012, transaction on page 19 of Wilco Co.’s two column journal. Include an explanation of the entry.

(b) Prepare a four column account for supplies. Enter a debit balance of $975 as pf February 1, 2012. Place a check mark (() in the Posting Reference column.

(c) Prepare a four column account for Accounts Payable. Enter a credit balance of $13,150 as of February 1, 2012. Place a check mark (() in the Posting Reference column.

(d) Post the February 3, 2012, transaction to the accounts.

(e) Do the rules of debit and credit apply to all companies?