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View Full Version : Where does supplies bought on credit go on the Trial Balance sheet?


lovebeaches
Apr 7, 2010, 12:50 PM
If office supplies were bought by credit card, where does the transaction go on the trial balance sheet, on the debit or credit side?

If office supplies are bought with a credit card where does the transaction go on a trial balance sheet, in the debit column or in the credit column?

pready
Apr 7, 2010, 03:44 PM
The Journal entry will be:
Debit Supplies (because you are increasing an asset) and Credit a Payable account.