On June 6, Wing Wah Inc

question 177

Multiple Choice

On June 6, Wing Wah Inc.purchased supplies on account for HK$50,000.On June 30, the company paid half of the balance due.The June 30 payment will

• A)decrease Cash and increase Supplies Expense by HK$ 50,000.
• B)increase Cash and decrease Accounts Receivable by HK$25,000
• C)decrease Cash and decrease Accounts Payable by HK$25,000
• D)decrease Supplies and increase Supplies Expense by HK$25,000.

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