Which business transactions would result in the following journal entry Dr. Supplies Cr. Accounts Payable O...

  

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Which business transactions would result in the following journal entry Dr. Supplies Cr. Accounts Payable O a. Received supplies from the customer for whom services were provided on credit. O b. Purchased supplies on account. O. Proprietor Withdrew cash from the business for his personal use. O d. Purchased supplies by cash. The liability created by a business when it purchases Materials from its suppliers on credit is termed as O a. Expense O b. Revenue O . Account payable O d. Account receivable Which business transactions would result in the following journal entry Dr. Supplies Cr. Accounts Payable O a. Received supplies from the customer for whom services were provided on credit. O b. Purchased supplies on account. O. Proprietor Withdrew cash from the business for his personal use. O d. Purchased supplies by cash. The liability created by a business when it purchases Materials from its suppliers on credit is termed as O a. Expense O b. Revenue O . Account payable O d. Account receivable

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Answer 1 b Purchased supplies on account Explanation Whenever supplies are purchased on credit then ... View the full answer