Adjusting Entries: Supplies Video Lessons

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Problem: A company purchased office supplies on credit. What two accounts are affected by the transaction? A) Supplies and Cash B) Supplies and Accounts Payable C) Equipment and Accounts Payable D) Stockholders' Equity and Accounts Payable

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Problem Details

A company purchased office supplies on credit. What two accounts are affected by the transaction?

A) Supplies and Cash

B) Supplies and Accounts Payable

C) Equipment and Accounts Payable

D) Stockholders' Equity and Accounts Payable

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