Which of the following entries records the acquisition of the office supplies on account?

Answer:

The correct choice is option D: Equipment is debited, Accounts payable is credited.

Explanation:

When we purchase items on account or credit, there will be the occurrence of accounts payable.

In the case of purchase of equipment on account, debit what comes in i.e. equipment, and credit accounts payable.

Thus, in the case of credit purchase, equipment a/c would be debited while accounts payable a/c would be credited.

Wrong options:

Option a: Accounts payable would not be debited but the equipment.

Option b: Accounts payable would not be debited but the equipment.

Option c: Cash a/c would not be credited but the accounts payable.

Option e: Cash a/c would not be credited but the accounts payable.

112. Which of the following entries records the acquisition of office supplies on account?A.Office Supplies, debit; Cash, creditB.Cash, debit; Office Supplies, creditC.Office Supplies, debit; Accounts Payable, creditD.Accounts Receivable, debit; Office Supplies, credit113. Which of the following entries records the payment of rent for the current month?A.Cash, debit; Rent Expense, creditB.Rent Expense, debit; Cash, creditC.Rent Expense, debit; Accounts Receivable, creditD.Accounts Payable, debit; Rent Expense, credit114. Which of the following entries records the receipt of cash from patients on account?A.Accounts Payable, debit; Fees Earned, creditB.Accounts Receivable, debit; Fees Earned, creditC.Accounts Receivable, debit; Cash, creditD.Cash, debit; Accounts Receivable, credit115. Which of the following entries records the collection of cash from cash customers?A.Fees Earned, debit; Cash, creditB.Fees Earned, debit; Accounts Receivable, creditC.Cash, debit; Fees Earned, creditD.Accounts Receivable, debit; Fees Earned, credit

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Which entry records the acquisition of office supplies on account?

Answer and Explanation: Answer: c. Office Supplies, debit; Accounts Payable, credit.

When office supplies are purchased on account which of these accounts is credited?

In case of purchase of office supplies on account, office supplies will be debited, and accounts payable will be credited. In case of purchase of 15 gallons of gasoline for the delivery of truck, expenses paid on delivery are to be debited as well as cash is to be credited.

What is your journal entry on this transaction Purchased office supplies on account?

This is an Expert-Verified Answer A purchase of Office Equipment by the company on account is considered as the purchase of Office Equipment on credit. Therefore, the Journal Entry should be the debit to office equipment account and credit to the Accounts Payable Account.

What account is purchase office supplies?

In the chart of accounts, the Cash account is a current asset account. Office Supplies is an operating expense account, and Accounts Payable is a liability account.

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