Your business purchased supplies of $2,500 on account. The journal entry to record this transaction
Your business purchased supplies of $2,500 on account. The journal entry to record this transaction is as follows:
a. Supplies
2,500
Accounts receivable
2,500
b. Supplies
2,500
Accounts payable
2,500
c. Accounts payable
2,500
Supplies
2,500
d. Inventory
2,500
Accounts payable
2,500