Prepare Journal Entries in a Purchases Journal Guardian Services Inc. had the following transactions during the month of April: Apr. 4. Purchased office supplies from Officemate Inc. on account, $415. Apr. 9. Purchased office equipment on account from Tek Village Inc., $2,460. Apr. 16. Purchased office supplies from Officemate Inc. on account, $185. Apr. 19. Purchased office supplies from Paper-to-Go Inc. on account, $195. Apr. 27. Paid invoice on April 4 purchase from Officemate Inc. a. Prepare a purchases journal to record the April purchase transactions for Guardian Services Inc. If an amount box does not require an entry, leave it blank. If no entry is required in "Other Accounts Dr." then select "No entry required".

Apr. 4.

Office Supplies $415 (debit)

Accounts Payable - Officemate Inc. $415 (credit)

Apr. 9

Office Equipment $2,460 (debit)

Accounts Payable - Tek Village Inc. $2,460 (credit)

Apr. 16.

Office Supplies $185 (debit)

Accounts Payable - Officemate Inc. $185 (credit)

Apr. 19

Office Supplies $195 (debit)

Accounts Payable - Paper-to-Go Inc. $195 (credit)

Apr. 27

Accounts Payable - Officemate Inc. $415 (debit)

Cash $415 (credit)

Explanation:

Recognise a Liability - Accounts Payable for each purchase on Account.

De-recognise the liability when amount is settled.

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.