On March 3,2011,your company pays $4,000 to acquire supplies.Should this be a recognized accounting transaction? If so,what accounts are affected and by how much each?

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The Answer of On March 3,2011,your company pays $4,000 to acquire supplies.Should this be a recognized accounting transaction? If so,what accounts are affected and by how much each?

On March 3,2011,your Company Pays $4,000 to Acquire Supplies