Jenna Jeffries started her business baking dog treats by investing cash of $1000.During May its first month of operations Jenna's Barkery had revenues of $3000 all of which was collected in cash.She paid her assistant $1000 in cash and purchased $200 of supplies on account.The business paid cash dividends of $500.
Jenna will record the purchase of the supplies by
A) increasing Supplies and decreasing Cash.
B) increasing Supplies Expense and decreasing Accounts Payable.
C) increasing Supplies and increasing Accounts Payable.
D) increasing Supplies Expense and decreasing Supplies.
Correct Answer:
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