The Purchase of Supplies on Account Was Recorded and Posted

question 73

Multiple Choice

The purchase of supplies on account was recorded and posted as a debit to Supplies for $500 and a credit to Accounts Receivable for $500. The correcting entry would include a

• A) credit to Accounts Receivable for $500
• B) credit to Accounts Receivable for $1,000
• C) credit to Accounts Payable for $500
• D) credit to Accounts Payable for $1,000

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Definitions:

Pollution

The introduction of contaminants into the natural environment, causing adverse change and harm to habitats and organisms.

Sources

Refers to the origins or places from which something is obtained, often used in the context of gathering information or materials.

Emissions Tax

A tax imposed on the emission of pollutants, aimed at reducing environmental harm by incentivizing companies to lower their pollution levels.

Marginal Benefit

The further enjoyment or utility obtained when one more unit of a product or service is consumed.