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Brown company purchased $900 of supplies on credit. illustrate how to record the transaction to t-accounts by completing the following sentence. accounts payable would be?

Sagot :

The statement has been completed as follows:-

Accounts payable would be credited on the right side and supplies would be debited on the left side.

What is accounts payable?

Accounts payable (AP) is a financial word that refers to the money owing to suppliers or vendors for products or services acquired on credit. It is the bill that company needs to pay.

Accounts payable which are also known as Bills payables are credited on the right side, while supplies are debited on the left. Therefore, it can be concluded that  payable would be credited and supplies would be debited in the journal entry.

Learn more about payable here:

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Your question is incomplete, but most probably the full question was….

Accounts payable would be ______on the ____ side and supplies would be ______on the _____side

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