On October 10,a company paid $36,000 to a supplier.Of that amount,$6,000 was for supplies received on October 10 and $30,000 was for supplies that were purchased on account during September.The journal entry to record the $36,000 payment would include a debit to:

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When a company pays for something that provides benefits in future periods,the cost is reported as an asset.The supplies are reported as an asset when purchased.The compound journal entry includes a debit to Supplies for $6,000 (the amount purchased),a debit to Accounts Payable for $30,000 (for the payment on account),and a credit to Cash for $36,000 (the total amount paid).

On October 10,a Company Paid $36,000 to a Supplier