Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. collin printing began operation on january 1. on j

Collin printing began operation on January 1. On January 7, Collin purchased supplies on account...

60.1K

Verified Solution

Question

Accounting

Collin printing began operation on January 1. On January 7, Collin purchased supplies on account for $1,000. At the end of January, Collin had $600 of supplies on hand. The proper journal entry for the January 7 transaction would:

Include a debit to supplies for $1,000

Include a debit to supplies expense for $400

include a debit to supplies for $600

none

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

Are phospholipids still in the cell membrane? What keeps cells moving in cold weather? How does cholesterol...

Mechanical Engineering
1.2K views

A fuel gas consists of 75% butane (C4H10), 10% propane (C3H8) and 15% butene (C4H8) by...

Physics
1.2K views

A wheel turns with a constant angular acceleration of 0.700 rad/s2rad/s2. I JUST NEED PART B...

Biology
1.2K views

If a person perceives him herself as the cause of the stressor he she may...

Biology
1.2K views

What is the correct way to show the scientific name for the African lion based...

Basic Math
1.2K views

11 Karen deposits 60 000 into an account that pays simple interest at a rate...

Calculus
1.2K views

Make a probability distribution for the give The sums that appear when two fair four...

Algebra
1.2K views

Joel started doing sit ups to prepare for the school fitness test In 5 days...

Accounting
1.2K views

The following events took place when managers were preparing budgets for the upcoming period. Assuming...

Accounting
1.2K views

solve from question 1-13 ...

Accounting
1.2K views

hello, thank you for this! question is; how did you get $275,434? thank you!

Accounting
1.2K views

Required: The following are the transactions of Spotlighter, Incorporated, for the month of January, For...