2024 – Sam s Lawn Care purchased 2 500 of supplies for the upcoming summer season Sam paid 500 cash and owes
ACC 211 – 2024
Sam’s Lawn Care purchased $2,500 of supplies for the upcoming summer season. Sam paid $500 cash and owes the remaining amount next month. What is the appropriate journal entry for this transaction? Answer
| Debit supplies $2,500; Credit cash $2,500 | ||
| Debit supplies expense $2,500; Credit cash $2,500 | ||
| Debit supplies $500; credit cash $500 | ||
| Debit supplies $2,500; Credit cash $500; Credit accounts payable $2,000 |
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