If a $47 cash purchase of supplies is recorded as a $57 debit to Supplies Expense and a $57 credit to Cash, the result will be that
A) the trial balance will be out of balance.
B) the Supplies Expense account will be understated.
C) the Cash account will be overstated.
D) Supplies Expense will be overstated and Supplies will be understated.
E) none of these will be true.
Correct Answer:
Verified
Q5: A list of account balances in two
Q6: A credit may result in
A) an increase
Q7: Which of the following entries records the
Q8: Which of the following classifications of accounts
Q9: A business buys office equipment for cash.
Q11: The trial balance will not expose which
Q12: A purchase of supplies on account should
Q13: When a T account has several items
Q14: Which of the following describes the classification
Q15: The plus side of a T account
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents