Question

On April 7, Carlton Company purchases supplies for $600 cash. Provide the journal entry for this transaction.

Answer 1

The journal entry for Carlton Company's purchase of supplies for $600 cash on April 7 would be: Date Account Debit Credit Apr 7 Supplies $600 Accounts Payable/Cash $600.

Step-by-step explanation:

The journal entry for Carlton Company's purchase of supplies for $600 on April 7, assuming it was paid in cash, would be:

javascript

Copy code

Date Account Debit Credit

Apr 7 Supplies $600

Cash $600

This entry records the increase in the Supplies account by debiting it with $600, reflecting the acquisition of supplies. The credit entry is made to the Cash account, indicating that the payment was made immediately in cash. This transaction is a straightforward cash purchase, as opposed to a purchase on credit.