Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 43 - No. 16)
Which of the following is the proper journal entry for a company purchasing office supplies on account?
Debit Office Supplies, Credit Cash
Debit Office Supplies, Credit Accounts Payable
Debit Cash, Credit Office Supplies
Debit Accounts Payable, Credit Office Supplies
Explanation
Purchasing supplies on account increases office supplies (debit) and increases Accounts Payable (credit).
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