Cooper Law Offices has the following source document from one of its suppliers:
Allen Office Supplies
Description Quantity Price per unit Total
Legal paper 100 $ 15 $ 1,500
Ink cartridge 40 $ 30 $ 1,200
$ 2,700
Invoice Number: #127874
Date of purchase: January 17, 2021
Payment due: 30 days from date of purchase
What should Cooper record on the date of the purchase?
A) Debit Cash; Credit Accounts Receivable for $2,700.
B) Debit Supplies; Credit Accounts Payable for $2,700.
C) Debit Accounts Payable; Credit Cash for $2,700.
D) Debit Accounts Receivable; Credit Sales Revenue for $2,700.
Answer: B
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.