June 26 Supplies 500
Accounts Payable 500
??
a. Purchased supplies with cash
b. Investment of supplies by stockholder
c. Purchased supplies by stockholder
d. Paid accounts payable
I think the answer is C.
|
June 26 Supplies 500
Accounts Payable 500
??
a. Purchased supplies with cash
b. Investment of supplies by stockholder
c. Purchased supplies by stockholder
d. Paid accounts payable
I think the answer is C.
Quote:
Originally Posted by kekebrown
You are correct. The entry is demostrates a purchase of supplies on credit (account). I'm not sure if your professor is using the term "stockholder" in their answer choices to beef up their answer choices as this scenario is highly unlikely, but nevertheless feasible.
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