Specter Consulting Purchased $7,000 of Supplies and Paid Cash Immediately

question 158

Multiple Choice

Specter Consulting purchased $7,000 of supplies and paid cash immediately.Which of the following general journal entries will Specter Consulting make to record this transaction? Assume the company's policy is to initially record prepaid and unearned items in balance sheet accounts.

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Definitions:

Environmental Policies

Guidelines and regulations aimed at managing human impact on the environment, promoting sustainability, and protecting natural resources.

Ecosystem Diversity

The variety of different ecosystems within a region, contributing to the overall biodiversity and health of the environment.

Biodiversity

is the variety and variability of life on Earth, encompassing the diversity of species, ecosystems, and genetic variations.

Carbon Sink

Natural matter that absorbs more carbon than it emits.