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A $375 purchase of supplies on account was recorded by debiting Supplies for $375 and crediting Cash ...

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A $375 purchase of supplies on account was recorded by debiting Supplies for $375 and crediting Cash ...

A $375 purchase of supplies on account was recorded by debiting Supplies for $375 and crediting Cash for $375. The entry needed to correct this error is:
A) Debit Accounts Payable for $375 and credit Cash for $375.
B) Debit Accounts Receivable for $375 and credit Cash for $375.
C) Debit Cash for $375 and credit Accounts Payable for $375.
D) Debit Cash for $375 and credit Accounts Receivable for $375.

Textbook

Financial Accounting

Edition: 3^rd

Authors: Kemp, Waybright

Read 872 times

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tivo Author

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7 years ago

Thank you for helping me with my accounting homework, will ask again

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4 years ago

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hilda r.

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#10

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