On January 4, Ballard Industries purchased supplies of $4,000 on credit. Ballard will debit Supplies and

Name: On January 4, Ballard Industries purchased supplies of $4,000 on credit. Ballard will debit Supplies and
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Question

Quizplus · Accepted Answer

When supplies are purchased on credit, Accounts Payable is credited to record the liability owed to the supplier. Supplies is debited to increase the asset account for the inventory received. Therefore, the correct choice is A) credit Accounts Payable.

On January 4, Ballard Industries Purchased Supplies of $4,000 on Credit