On September 5,Heidi Co. ,purchases $87,000 of supplies;payment is not required until October 4.What action should be taken by Heidi on September 5?
A) No journal entry is required;this transaction should not be recorded until the payment is made.
B) A journal entry that includes a credit to Accounts Payable should be prepared.
C) A journal entry that includes a debit to Accounts Payable should be prepared.
D) A journal entry that includes a debit to Prepaid Expenses should be prepared.
Correct Answer:
Verified
Q134: Consider the following journal entry:
Q135: Which of the following would cause a
Q136: B.Darin Company issued common stock to investors
Q137: A company uses $100,000 in cash to
Q138: Baldwin Company purchased equipment for $420,000 and
Q140: Which of the following is a report
Q141: A noncurrent liability is one that the
Q142: Which of the following would not be
Q143: Current liabilities are expected to be:
A)converted to
Q144: 
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