Question

If every credit purchase were recorded in the journal, the entry for each such transaction would be to debit ______ and credit ______

• A. Personal Account of the Supplier, Goods Account
• B. Goods Account, Cash Account
• C. Goods Account, Personal Account of the Supplier
• D. Personal Account of the Supplier, Cash Account

Answer 1

Answer:

C. Goods Account, Personal Account of the Supplier

For credit purchases: Goods Account is debited (goods come in) Supplier’s Personal Account is credited (amount payable)