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Find which journal entry should be made to record purchase

Assignment Help Financial Accounting
Reference no: EM132551495

Question 1: A customer purchased an item on credit which journal entry should be made to record this purchase?

Journal Entries:

A.) Accounts Receivable Sales Revenue Debit $ 250 Credit $ 250

B.) Accounts Receivable Customer Payment Received Debit $ 250 Credit $ 250

C.) Accounts Payable Supplies Expense Debit $ 237 Credit $ 237

D.) Accumulated Depreciation Depreciation Expense Debit $ 725 Credit $ 725

E.) Prepaid Rent Rent Expense Debit $1,250 Credit $1,250

Reference no: EM132551495

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