The journal entry to record the purchase of supplies on account includes a debit to:
A)Supplies and a credit to Accounts Payable.
B)Supplies and a credit to Cash.
C)Supplies Expense and a credit to Accounts Payable.
D)Supplies Expense and a credit to Cash.

Question

Quizplus · Accepted Answer

The entry includes a debit to Supplies (to increase this asset account)and credit to Cash (to decrease this asset account).Supplies Expense will be recorded when the supplies are used.

The Journal Entry to Record the Purchase of Supplies on Account