What is the best explanation for this journal entry?
A) Purchased supplies with cash.
B) Returned supplies previously purchased.
C) Purchased supplies on account.
D) Paid accounts payable.

Question

What is the best explanation for this journal entry?
A) Purchased supplies with cash. 
B) Returned supplies previously purchased. 
C) Purchased supplies on account. 
D) Paid accounts payable.

Quizplus · Accepted Answer

The journal entry code (11ed...) is a reference to a specific transaction, and the account code TB2083 indicates that supplies were involved. The "_11" at the end suggests that this was a purchase made on account, meaning the company acquired the supplies but did not immediately pay for them with cash.

What Is the Best Explanation for This Journal Entry