If a business bought supplies on account how would u record this.
2. the business provided services to a charge customer what would be credited and debited
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If a business bought supplies on account how would u record this.
2. the business provided services to a charge customer what would be credited and debited
Oh man accounting! My enemy.
Anyway I took it last year in school, so I'm guessing this is correct.
1.if a business bought supplies on account how would u record this.
=Inventory.(if the supplies are being sold for revenue)
If it is something other, its probably administrative cost or something.
2. the business provided services to a charge customer what would be credited and debited
(no idea)
PS:failed accounting:(
Debit supplies credit accounts payable?
As for the second one what's a charge customer lol. I am so good at this;)
When they are being sold I think it's cost of goods sold.Quote:
Originally Posted by rebel-2
Dr. SuppliesQuote:
Originally Posted by baby111
Cr. Accounts Payable
Dr. Accounts ReceivableQuote:
Originally Posted by baby111
Cr. Sales
Captain forest is right:)
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