| | | Description |
| | | Sam's Lawn Care purchased $2,500 of supplies for the upcoming summer season. Sam paid $500 cash and owes the remaining amount next month. What is the appropriate journal entry for this transaction? Answer |
| | | Debit supplies $2,500; Credit cash $2,500 | x |
| | | Debit supplies expense $2,500; Credit cash $2,500 | x |
| | | Debit supplies $500; credit cash $500 | x |
| | Answer | Debit supplies $2,500; Credit cash $500; Credit accounts payable $2,000 | Correct |
| | | The Journal entry for above transaction is |
| | | | | Debit | | Credit |
| | | | | $ | | $ |
| | | Supplies | | 2500 |
| | | Cash | | | | 500 |
| | | Accounts Payables | | | | 2000 |
| | | To record purchase of supplies for $2500 and paid $500 cash and balance is on account |
cybacatx
436438_1_accounts-payables-journal-entry.xlsx
