Purchasing supplies for cash will require a credit to Supplies and a debit to Cash.
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Q20: The drawing account is part of owner's
Q20: If a revenue account is credited the
Q22: The investement of cash in the business
Q23: The accounting equation could be written as
Q26: Purchasing supplies on account will increase Accounts
Q27: A debit is recorded to increase an
Q28: The chart of accounts is a listing
Q28: The normal balance of any account is
Q29: The purchase of supplies decreases Owner's Capital.
Q30: The double-entry system is a logical method
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