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-   -   Where does supplies bought on credit go on the Trial Balance sheet? (https://www.askmehelpdesk.com/showthread.php?t=463254)

  • Apr 7, 2010, 12:50 PM
    lovebeaches
    Where does supplies bought on credit go on the Trial Balance sheet
    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?
  • Apr 7, 2010, 03:44 PM
    pready

    The Journal entry will be:
    Debit Supplies (because you are increasing an asset) and Credit a Payable account.

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