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The purchase of supplies on account for $40 was debited to Supplies $400 and credited to Accounts Payable $400. The corr
Posted: Mon May 30, 2022 6:33 am
by 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 13 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