Sooner purchased office supplies on account.The transaction would be recorded as:

Question

Quizplus · Accepted Answer

When office supplies are purchased on account, it means that the supplier or vendor has provided the supplies on credit and will be paid at a later date. Hence, the accounts payable account needs to be credited to record the liability. On the other hand, the supplies account needs to be debited to record the increase in assets. Therefore, the correct journal entry for this transaction would be Debit Supplies, Credit Accounts Payable, making option D the correct answer.

Sooner Purchased Office Supplies on Account