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On December 31, the company purchases supplies for $1,000 on credit.
Complete the necessary journal entry by selecting the account names from the pull-down menus and entering dollar amounts in the
debit and credit columns.

Sagot :

  • The journal entry for recording the purchase of supplies on credit is given below:

Supplies Dr $1,000

    To Account payable $1,000

(Being purchase supplies on credit is recorded)

Here the supplies are debited as it increased the assets and credited the account payable as it also increased the liabilities.

Learn more about the supplies here: brainly.com/question/14246224

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