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    Tanzy's Avatar
    Tanzy Posts: 1, Reputation: 1
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    #1

    Sep 11, 2007, 06:00 PM
    Accounting questions
    My investments is $1500.00. If I bought supplies for cash for $400.00, where would the $400.00 go under on my accounting work sheet?
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
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    #2

    Sep 11, 2007, 06:13 PM
    Debit Supplies 400
    Credit Cash 400

    That means increase Supplies (an asset account) by 400 and decrease Cash (an asset account) by 400
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