Multiple Choice
A company purchased supplies on account; however, the journal entry to record the purchase was a debit to Supplies for $200 and a credit to Cash for $200. What will the effect be on the trial balance?
A) There will be no effect on the trial balance.
B) Debits will be $200 more than credits.
C) Debits will be $200 less than credits.
D) None of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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