The purchase of office supplies on account would include a debit to accounts payable and a credit to office supplies.

Name: The purchase of office supplies on account would include a debit to accounts payable and a credit to office supplies.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The purchase of office supplies on account would include a debit to Office Supplies (increasing the asset) and a credit to Accounts Payable (increasing the liability), not the other way around.

The Purchase of Office Supplies on Account Would Include a Debit