None of the aboveThe entry to record the purchase of Supplies on December 2 would be: "a debit to Supplies $320 and a credit to Cash $320a debit to Supplies $640, a credit to Cash $320, and a credit to Accounts Payable$320a debit to Supplies Expense $640, a credit to Cash $320, and a credit to AccountsPayable $320None of the above Use the following to answer the seven questions belowJeff Tale invested $20,000 cash in "Tallall Company", a soleproprietorship he established to render internet servicesThe company purchased $640 of supplies by paying half of the amountcashDecember 1December 2December 10 The company received $3,000 cash in advance for services to beperformed over the next 3 monthsDecember 20 The company purcha sed office equipment for $6.000 by signing a 10month, 6% note payableDecember 29 The company paid half of its account payableDecember 31 The owner withdrew $800 cash for personal use.The entry to record the investment of $20,000 by the owner on December 1would be: *O a debit to Cash and a credit to Owner's Capital by $20,000a debit to Cash and a credit to Investment by Owner by $20,000a credit to Cash and a debit to Owner's Capital by $20,000None of the aboveA O 4) ENG

1. On December 1, owner has contributed cash to business in which case there would be cash inflow…

Answered: The entry to record the purchase of…

Business

Accounting

The entry to record the purchase of Supplies on December 2 would be:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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