During April, Tempe Corp. paid $5,000 on account for supplies that were purchased, recorded, and used during March. In recording this transaction, Tempe will
A) debit Accounts Payable and credit Cash.
B) debit Cost of Goods Sold and credit Accounts Payable.
C) debit Supplies Expense and credit Accounts Payable.
D) accrue an expense of $5,000.
Correct Answer:
Verified
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