Green Cleaning purchased $500 of office supplies on credit. The company’s policy is to initially record prepaid and unearned items in balance sheet accounts. Which of the following general journal entries will Green Cleaning make to record this transaction?

Debit Office supplies, $500; credit Cash, $500.

Debit Office supplies, $500; credit Accounts payable, $500.

Debit Accounts payable, $500; credit Office supplies, $500.

Debit Office supplies expense, $500; credit Cash, $500.

Debit Cash, $500; credit Office supplies, $500

Debit Office supplies, $500; credit Accounts payable, $500.

Explanation:

Purchase of supplies on credit will increase the supplies and increase the account payable balance as well. Supplies account is an asset account therefore it has debit balance and Account payable is a liability account so it has credit balance. To reflect the event following Journal entry is recorded.

Debit       Office supplies         $500

Credit      Accounts payable    $500

answer; /// blank(1); above; blank(2); less;

two years ago, when picking flowers in the mountains back of yosemite valley, i found a book. it was blotted and storm-beaten; all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however; many of the inner pages were well preserved. and although all were more or less stained and torn, whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today; its granite pages have been torn and blurred by the same storms that wasted the castaway book.

two years ago, when picking flowers in the mountains back of yosemite valley; i found a book. it was blotted and storm-beaten, all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however, many of the inner pages were well preserved. and although all were more or less stained and torn; whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today, its granite pages have been torn and blurred by the same storms that wasted the castaway book.