The account credited when supplies are purchased on account is:
A) Accounts Payable
B) Supplies Expense
C) Supplies
D) Cash
Correct Answer:
Verified
Q19: The journal entry to record the payment
Q20: A debit increases the balance of which
Q21: Which of the following statements regarding accounts
Q22: Interest payable, income tax payable and salary
Q23: What is the first step in the
Q25: A trial balance is:
A) a list of
Q26: The normal balance of the Supplies account
Q27: Which type of account is credited when
Q28: A credit decreases the balance of which
Q29: Accounting transactions are first recorded in a
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents