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-   -   Purchased office suppplies on account (https://www.askmehelpdesk.com/showthread.php?t=512487)

  • Sep 30, 2010, 08:20 PM
    Cedisha
    Purchased office suppplies on account
    Apply this question to the accounting equatio!
  • Oct 1, 2010, 06:55 AM
    pready

    The journal entry will be:
    Debit Office Supplies, which increases an asset
    Credit Accounts Payable, which increases a liability.

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