if-a-company-uses-400-worth-of-supplies-during-the-period-what-is-the-correct-jo

Question

If a company uses $400 worth of supplies during the period, what is the correct journal entry to record the supplies expense?

Accepted Answer

Debit Supplies Expense $400; Credit Supplies $400

Answer

Debit Supplies Expense $400; Credit Cash $400

Answer

Debit Cash $400; Credit Supplies Expense $400

Answer

Debit Supplies $400; Credit Supplies Expense $400

If a company uses \$400 worth of supplies during the period, what is the correct journal entry to record the supplies expense?