What business event is represented by this journal entry?
A)Incurred supplies expense.
B)Purchased supplies with cash.
C)Used supplies.
D)Purchased supplies on account.

Name: What business event is represented by this journal entry? A)Incurred supplies expense. B)Purchased supplies with cash. C)Used supplies. D)Purchased supplies on account.
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Question

What business event is represented by this journal entry? 
A)Incurred supplies expense. 
B)Purchased supplies with cash. 
C)Used supplies. 
D)Purchased supplies on account.

Quizplus · Accepted Answer

The purchase of supplies on account would increase supplies (a debit) and increase accounts payable (a credit).

What Business Event Is Represented by This Journal Entry