Journalize the Following:
1. The following were purchased on account:
a. Materials $ 10,000
b. Office supplies $ 2,000
c. Small tools $ 1,000
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Answer / Rajesh Dhapodkar
Account Debits:nSupplies Payable - Materials $10,000nSupplies Payable - Office Supplies $2,000nSupplies Payable - Small Tools $1,000nnAccount Credits:nMaterial Inventory $10,000nOffice Supplies Inventory $2,000nSmall Tools Inventory $1,000
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