Specter Consulting purchased $8200 of supplies and paid cash immediately. Which of the following general journal entries will Specter Consulting make to record this transaction? Assume the company's policy is to initially record prepaid and unearned items in balance sheet accounts.
A.
| Supplies | 8200? | |
| Cash | 8200? |
B.
| Accounts Payable | 8200? | |
| Supplies | 8200? |
C.
| Supplies Expense | 8200? | |
| Accounts Payable | 8200? |
D.
| Cash | 8200? | |
| Supplies | 8200? |
E.
| Supplies | 8200? | |
| Accounts Payable | 8200? |
Answer: A
Business
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