Question

for the following transactions provided and select appropriate journal entry

oct 1st purchased supplied on account for $1800

Answer 1

Date	Account Titles and Explanation	Debit	Credit
Oct. 1	Supplies	$1,800
	Accounts payable		$1,800
	(To record purchase of supplies on account)

.

• When you purchase supplies, supplies inventory balance increases. So, to increase the balance of supplies inventory balance, the supplies account should be debited.
• When you purchase supplies on account, the balance of payables increases. So, to increase the balance of payables, the Account payable account should be credited.