The business purchased Supplies on account. Which of the following Journal entry is Correct ? a. Debit Supplies and credit Accounts Payable. b. Debit Supplies and credit Cash. c. Debit Expense and credit Accounts Payable. d. Debit Expense and credit Cash.
The business purchased Supplies on account. Which of the following Journal entry is Correct ? a. Debit Supplies and credit Accounts Payable. b. Debit Supplies and credit Cash. c. Debit Expense and credit Accounts Payable. d. Debit Expense and credit Cash.
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter3: The Double-entry Framework
Section: Chapter Questions
Problem 4SEB: NORMAL BALANCE OF ACCOUNT Indicate the normal balance (debit or credit) for each of the following...
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The business purchased Supplies on account. Which of the following Journal entry is Correct ?
a.
Debit Supplies and credit Accounts Payable.
b.
Debit Supplies and credit Cash.
c.
Debit Expense and credit Accounts Payable.
d.
Debit Expense and credit Cash.
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