Question
A business purchases $500 of office supplies on account. What is the effect on the accounting equation? A. Office Supplies increase and Accounts Payable decrease
A business purchases $500 of office supplies on account. What is the effect on the accounting equation?
A.
Office Supplies increase and Accounts Payable decrease
B.
Office Supplies increase and Cash decreases
C.
Total assets increase and total liabilities decrease
D.
Office Supplies increase and Accounts Payable increase
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A Textbook Of Accounting For Management
Authors: S.N. Maheshwari
3rd Edition
9325956195, 978-9325956193
