Ask Experts Questions for FREE Help !
Ask
    Rhino6553's Avatar
    Rhino6553 Posts: 2, Reputation: 1
    New Member
     
    #1

    Mar 13, 2010, 01:21 PM
    Bought supplies on account from Draper Company, $362.40
    Journalize
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
    Uber Member
     
    #2

    Mar 13, 2010, 05:14 PM

    Please at least make an attempt at the entry first.

    If you bought supplies, what happens to your supplies? What does "on account" mean? Etc.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

If supplies expense is a debit? What account gets credited? [ 2 Answers ]

I am having a problem with understanding what account gets credited if the supplies expense is a debit. In the problem, there is a supplies expense of 0, but after adjustments the supplies expense is 3300. There is no supplies payable account; only accounts payable, interest payable, rent...

End of Fiscal Period, Didn't account for expenses for supplies. [ 1 Answers ]

If at the end of a fiscal period, a business owner does not make an adjustment for supplies what effect will it have on the business's financial reporting? I know that this is not a proper procedure of accounting, but would this just affect the business's financials by not ending up with the...

Journal Entry - Supplies bought on credit [ 3 Answers ]

I am having trouble with this problem (although I know it must be simple to answer!). Someone please, please help!! If your company purchased supplies on credit, hwo would you record this journal entry? Then when you make a partial payment to your credit account, how would you record that...


View more questions Search