What business event is represented by a journal entry that shows a debit to supplies of $9,000 and a credit to cash of $9,000?
A) The company incurred supplies expense.
B) The company purchased supplies with cash.
C) The company used supplies.
D) The company purchased supplies on account.

Question

Quizplus · Accepted Answer

The journal entry shows that the company purchased supplies with cash. The debit to supplies indicates an increase in the asset account while the credit to cash shows a decrease in the asset account, indicating that cash was paid for the supplies.

What Business Event Is Represented by a Journal Entry That