Wisconsin Rentals purchased office supplies on credit.The journal entry made by Wisconsin Rentals to record this transaction will include a:

Question

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When Wisconsin Rentals purchases office supplies on credit, they are essentially promising to pay the supplier at a later date. This creates a liability for the company, which is recorded as an Accounts Payable. Therefore, the journal entry would include a Credit to Accounts Payable to represent the amount owed to the supplier.

Wisconsin Rentals Purchased Office Supplies on Credit