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 (TB6235_00) suggests that this is a recording of a transaction related to accounts payable. The numbers and letters following the code likely indicate the specific accounts involved in the transaction. Therefore, the best explanation is that supplies were purchased on account.

What Is the Best Explanation for This Journal Entry