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For the transaction paid cash for office supplies the accounts affected would be?
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What account is affected in an account journal when you avail of purchase discount for office supplies that was bought on account?
Accounts payable and Cash accounts
What is the difference between office supplies account and office supplies expense account?
Office supplies acct is an account that you book as payables and a offfice supplies expense account is a Liability Account on your Chart of accounts
How do you journal entry office supplies on account?
Debit office suppliesCredit accounts payable
What is the journal entry for Outstanding amount owing to Office Supplies?
debit office suppliescredit accounts payable
What account type is accounts payable?
Accounts payable is a liability account. When something is purchased on account it falls under this category such as purchasing $10,000 worth of office supplies on account. You would debit the office supplies account under assets and credit accounts payable under liabilities.
What account is affected in an account journal when you avail of purchase discount for office supplies that was bought on account?
Accounts payable and Cash accounts
How do you journalize office supplies on account?
Debit office suppliesCredit Accounts Payable
What is the difference between office supplies account and office supplies expense account?
Office supplies acct is an account that you book as payables and a offfice supplies expense account is a Liability Account on your Chart of accounts
How do you journal entry office supplies on account?
Debit office suppliesCredit accounts payable
What is the journal entry for Outstanding amount owing to Office Supplies?
debit office suppliescredit accounts payable
How are business expenses added to my office supplies when cash is used to purchase the office supplies?
If the company reimburses you: Dr. Office Supplies and Cr. Cash. If the company does not reimburse you: Dr. Office Supplies and Cr. Accounts Payable - Owner (if you will eventually be reimbursed) or Additional Paid-in Capital (if you will never be reimbursed)
What account type is accounts payable?
Accounts payable is a liability account. When something is purchased on account it falls under this category such as purchasing $10,000 worth of office supplies on account. You would debit the office supplies account under assets and credit accounts payable under liabilities.
where can we buy commercial business supplies?
It really depends what commercial business supplies you are looking for. If you are looking for computers, office furniture and general office supplies, I would recommend Staples or Office Depot. Both stores also offer corporate accounts for large volume purchases.
What is the best place to purchase accounts books?
Accounts books can be purchased from any major online retailer. They can also be purchased in person from any major retailer such as Office Max or Office Depot, or any retailer that specializes in office supplies.
What account is affected in an account journal when you return office supplies that was bought on account?
Say I purchsed $500 in Office Supplies on account, I return the office supplies, since I purchased them on account, the company I purchased them from will extend me a credit to my account decreasing the balance I owe them by the said amount. My books will record....Account Payable (debit)Office Supplies (credit)I debit my Account Payable to show that I no longer owe that amount and I credit my Office Supplies to show that I no longer have that amount of supplies on hand.
Where can you get office supplies?
At an office supply store. One can either visit an office supplies store or order office supplies online.
Discount Office Supplies?
form_title= Discount Office Supplies form_header= Save money on discount office supplies. What supplies do you need?*= _ [50] Do you want your company logo on the supplies?*= () Yes () No What is your budget for office supplies?*= _ [50]
