Answered: Which two accounts are affected when a…

Which two accounts are affected when a business buys supplies on account? O Supplies and Accounts Payable Accounts Payable and Cash O Cash and Supplies Accounts Receivable and Supplies

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter2: Analyzing Transactions Into Debit And Credit Parts

Section2.2: Analyzing How Transactions Affect Accounts

Problem 2AYU

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Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

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Which two accounts are affected when a business buys supplies on account?
O Supplies and Accounts Payable
Accounts Payable and Cash
O Cash and Supplies
Accounts Receivable and Supplies

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