On March 3,Year 3,your company purchases supplies on account for $4,000.Payment is due on April 2,Year 3.
Required:
Part a.Is this an accounting transaction on March 3,Year 3? Why or why not?
Part b.When this transaction is recorded,what accounts are affected and by how much each?

Question

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The Answer of On March 3,Year 3,your company purchases supplies on account for $4,000.Payment is due on April 2,Year 3.
Required:
Part a.Is this an accounting transaction on March 3,Year 3? Why or why not?
Part b.When this transaction is recorded,what accounts are affected and by how much each?

On March 3,Year 3,your Company Purchases Supplies on Account for $4,000.Payment