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Lam Company bought some supplies from Staples for $1,500 on credit on March 15. On March 31, Lam receive a bill for the account balance.
Lam Company bought some supplies from Staples for $1,500 on credit on March 15. On March 31, Lam receive a bill for the account balance. On April 15, Lam paid the account in full. How would Lam record the April 15th transaction?
A. | Supplies | 1,200 | |
Accounts Payable | 1,200 | ||
B. | Accounts Payable | 1,200 | |
Supplies | 1,200 | ||
C. | Cash | 1,200 | |
Accounts Payable | 1,200 | ||
D. | Accounts Payable | 1,200 | |
Cash | 1,200 |
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