a business purchased office supplies of $28,000 on account. the business would: a. debit supplies for…

a business purchased office supplies of $28,000 on account. the business would: a. debit supplies for $28,000 and credit cash for $28,000. b. debit accounts receivable for $28,000 and credit supplies for $28,000. c. debit supplies for $28,000 and credit accounts payable for $28,000. d. debit accounts payable for $28,000 and credit supplies for $28,000.

a business purchased office supplies of $28,000 on account. the business would: a. debit supplies for $28,000 and credit cash for $28,000. b. debit accounts receivable for $28,000 and credit supplies for $28,000. c. debit supplies for $28,000 and credit accounts payable for $28,000. d. debit accounts payable for $28,000 and credit supplies for $28,000.

Answer

Brief Explanations:

When a business purchases supplies on - account, it increases the Supplies asset (debit) and creates a liability (Accounts Payable) as it owes money for the supplies.

Answer:

C. debit Supplies for $28,000 and credit Accounts Payable for $28,000