Solved

A $375 Purchase of Supplies on Account Was Recorded by Debiting

Question 60

Multiple Choice

A $375 purchase of supplies on account was recorded by debiting Supplies for $375 and crediting Cash for $375. The entry needed to correct this error is:


A) Debit Accounts Payable for $375 and credit Cash for $375.
B) Debit Accounts Receivable for $375 and credit Cash for $375.
C) Debit Cash for $375 and credit Accounts Payable for $375.
D) Debit Cash for $375 and credit Accounts Receivable for $375.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions