Accounting MCQ
Accounting
On July 5, Harris Company purchased supplies from the hardware store for $600 on account. On July 10, Harris receives a bill from the hardware store as a reminder about the account balance. On July 17, Harris pays the account in full. How does Harris record the transaction on July 17?
On July 5, Harris Company purchased supplies from the hardware store for $600 on account. On July 10, Harris receives a bill from the hardware store as a reminder about the account balance. On July 17, Harris pays the account in full. How does Harris record the transaction on July 17?
On July 5, Harris Company purchased supplies from the hardware store for $600 on account. On July 10, Harris receives a bill from the hardware store as a reminder about the account balance. On July 17, Harris pays the account in full. How does Harris record the transaction on July 17?
A. Supplies 600
Accounts Payable 600
B. Accounts Payable 600
Supplies 600
C. Cash 600
Accounts Payable 600
D. Accounts Payable 600
Cash 600
A) Option A
B) Option B
C) Option C
D) Option D
Answer: D
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