When supplies are purchased on account, which accounts increase or decrease? a. Supplies increase; accounts payable increases.

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When supplies are purchased on account, which accounts increase or decrease?

a. Supplies increase; accounts payable increases.

b. Supplies increase; accounts receivable increases.

c. Supplies increase; accounts payable decreases.

d. Supplies increase; equity decreases.

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College Accounting Ch 1-14

ISBN: 9781260904314

1st Edition

Authors: John Wild, Vernon Richardson, Ken Shaw

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Question Posted: May 09, 2024 02:01 AM

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When supplies are purchased on account, which accounts increase or decrease? a. Supplies increase; accounts payable increases.

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College Accounting Ch 1-14

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