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.
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Accounting
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