The purchase of office supplies for cash would include a debit to the asset Office Supplies and a credit to the asset Cash.

Name: The purchase of office supplies for cash would include a debit to the asset Office Supplies and a credit to the asset Cash.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

This is correct as the purchase of office supplies is an increase in the asset account of Office Supplies and a decrease in the asset account of Cash. Therefore, the entry would be a debit to Office Supplies and a credit to Cash.

The Purchase of Office Supplies for Cash Would Include a Debit