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:

Hernia

A condition characterized by the protrusion of an organ through the wall of the cavity that normally contains it, often causing pain and swelling.

Protrusion

Something that sticks out or bulges beyond a surface or boundary.

Suffix

A morpheme added at the end of a word to alter its meaning or grammatical function.

Toward

In the direction of or closer to something.