What's the correct entry for $100 purchase of supplies on credit? a. Debit Cash: $100 & Credit Supplies: $100
b. Debit Accounts Payable: $100 & Credit Cash: $100
c. Debit Supplies: $100 & Credit Accounts Payable: $100
d. Debit Accounts Payable: $100 & Credit Supplies: $100
e. Debit Accounts Receivable: $100 & Credit Cash: $100

c. Debit Supplies: $100 & Credit Accounts Payable: $100

Explanation:

When we purchase supplies on credit this has the following effect :

Assets : Will Increase thus Debit Supplies with $100

Liabilities : Will Increase thus Credit Accounts Payable with $100

Conclusion :

The correct entry is c. Debit Supplies: $100 & Credit Accounts Payable: $100

forbearance of student loan payments. under forbearance, your loan payments are postponed (or reduced) but interest continues to accrue during the period of forbearance. if you don't pay the interest during that period, the interest may be “capitalized,” which means it is added to your principal balance.

i would prefer to go with the news article for nate, its recent and updated and stores a lot of information