Which of the following would be the effect of a transaction to expense Supplies for the period?
A)Increase Supplies, Decrease Supplies expense.
B)Increase Supplies, Decrease Cash.
C)Increase Supplies expense, Decrease Cash.
D)Decrease Supplies expense, Decrease Cash.
E)Increase Supplies expense, Decrease Supplies.

Question

Quizplus · Accepted Answer

Expensing supplies decreases the Supplies account and increases the Supplies Expense account.

Which of the Following Would Be the Effect of a Transaction