Consultant Curtis Conway purchased supplies on account for $4,000, which is recorded as a debit to Supplies and a credit to Accounts Payable. Later, Conway paid $3,750 on the account, which is recorded as a debit to Accounts Payable and a credit to Cash for $3,750. The balance in Accounts Payable after both transactions is $250.

1. Consultant Curtis Conway purchased supplies on acoount for $4,000. Later Conway paid $3,750
on account 1. Joumalize the two transactions on the bocks of Curtis Conway, Consultant Indude
an explanation for esch transaction. 2. A T-account for Acoounts Payable has been epened. Post
to Aocounts Payable. Computo the balance and denote is as Bal, 3. How much does the business
owe after both transactions? in which acoount does this amount appear? joumal entry table.)
Archilect Curtis Coriway purchased supples on acoount for $4,800.