Question
On June 1st, Green Pea, Inc. purchased $1,200 worth of supplies on account. How does this transaction affect Green Pea's accounts? a. Increase supplies and
On June 1st, Green Pea, Inc. purchased $1,200 worth of supplies on account. How does this transaction affect Green Pea's accounts?
a. Increase supplies and accounts payable by $1,200
b. Increase supplies and decrease cash by $1,200
c. Increase supplies and decrease accounts payable by$1,200
d. No effect since cash has not been paid
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Financial Accounting
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
3rd edition
9780077506902, 78025540, 77506901, 978-0078025549
