Instructions1. Journalize the transactions for July. Use a purchases journal and a cash payments journal similar to those illustrated in this chapter and a two-column general journal. Set debit columns for Field Supplies Office Supplies and Other Accounts in the purchases journal. Refer to the following partial chart of accounts:11 Cash 14 Field Supplies 15 Office Supplies 16 Prepaid Rent 17 Field Equipment 18 Office Equipment19 Land21 Accounts Payable61 Salary Expense71 Rent ExpenseAt the points indicated in the narrative of transactions post to the following subsidiary accounts in the accounts payable ledger:A-One Office Supply Co.Culver Supply Co.Petro Services Inc.2. Post the individual entries (Other Accounts columns of the purchases journal and the cash payments journal; both columns of the general journal) to the appropriate general ledger accounts.3. Total each of the columns of the purchases journal and the cash payments journal and post the appropriate totals to the general ledger. (Because the problem does not include transactions related to cash receipts the cash account in the ledger will have a credit balance.)4. Sum the balances of the accounts payable subsidiary ledger.5. Why might Texas Tea consider using a subsidiary ledger for the field equipment?