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Author Question: Journals, Inc. purchased 800 of supplies on account on May 3. On May 28, it paid 500 of the amount ... (Read 224 times)

mrsjacobs44

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Journals, Inc. purchased 800 of supplies on account on May 3. On May 28, it paid 500 of the amount it owed for supplies. The May 28 journal entry to record the payment is a debit to ________.
 
  A) Supplies expense of 500 and a credit to Cash of 500
  B) Accounts payable of 500 and a credit to Cash of 500
  C) Supplies expense of 500 and a credit to Accounts payable of 500
  D) Supplies of 500 and a credit to Accounts payable of 500

Question 2

There is no difference between the recording of cash sales and the recording of MasterCard or VISA sales.
 a. True
  b. False
 
   Indicate whether the statement is true or false



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heyhey123

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Answer to Question 1

B

Answer to Question 2

True




mrsjacobs44

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Reply 2 on: Jul 5, 2018
YES! Correct, THANKS for helping me on my review


bimper21

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Reply 3 on: Yesterday
Gracias!

 

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