What would be the effect on the accounts if the business purchased office supplies for cash?
A)An asset would be debited and an expense debited.
B)Expense would be debited and Revenue credited.
C)An asset would be debited and Revenue credited.
D)An asset would be debited and an asset credited.

Question

Quizplus · Accepted Answer

When office supplies are purchased for cash, one asset account (office supplies) is debited, and another asset account (cash) is credited.

What Would Be the Effect on the Accounts If the Business