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?
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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?
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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