The purchase of supplies on account for $40 was debited to Supplies $400 and credited to Accounts Payable $400. The corr

[answerhappygod]

The Purchase Of Supplies On Account For 40 Was Debited To Supplies 400 And Credited To Accounts Payable 400 The Corr 1 (9.55 KiB) Viewed 11 times

The purchase of supplies on account for $40 was debited to Supplies $400 and credited to Accounts Payable $400. The correcting entry to correct this error will be: Dr. Supplies 360 Cr. Account payable 360 O Dr. Account payable 400 Cr. Supplies 400 Dr. Account payable Cr. Supplies O Dr. Supplies 40 360 360 Cr. Account payable 40