Which of the following journal entries would be recorded if a business purchased office supplies on account in a previous accounting period and now makes a cash payment of $750 to the supplier to settle the account?

Question

Quizplus · Accepted Answer

The journal entry to record the cash payment to settle the account would be a debit to Accounts Payable for $750 and a credit to Cash for $750. Option B is the only choice that reflects this entry. Option A records the purchase of office supplies on account, but not the subsequent cash payment. Option C and D record other transactions unrelated to this scenario.

Which of the Following Journal Entries Would Be Recorded If