A business buys $300 of office supplies on account.Which of the following accounts is debited?

Name: A business buys $300 of office supplies on account.Which of the following accounts is debited?
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Question

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The account of Office Supplies is debited because the business has received an asset in the form of office supplies. Accounts Payable will be credited as it is a liability the business owes to its vendor for those supplies purchased on account.

A Business Buys $300 of Office Supplies on Account