At the end of the month, employees have made the following expenditures from the petty cash fund and with company-issued credit cards. None of these transactions has been recorded previously.
Supplies (petty cash) $ 50
Delivery (petty cash) $ 75
Advertising (credit card) $ 1,100
Equipment (credit card) $ 4,200
Accounting for these employee purchases would include a:
A) Credit to Cash for $5,425.
B) Credit to Accounts Payable for $5,300.
C) Credit to Equipment for $4,200.
D) Debit to Accounts Receivable for $5,300.
Answer: Credit to Accounts Payable for $5,300.
If the answers is incorrect or not given, you can answer the above question in the comment box. If the answers is incorrect or not given, you can answer the above question in the comment box.