An asset would be debited and a liability would be credited if the business

Question options:

bought equipment on account.

incurred an expense and paid it.not the answer

bought supplies for cash.

incurred an expense and didn't pay for the expense immediately.

Question

Carsen Gardner

Business

2 March, 01:18

An asset would be debited and a liability would be credited if the business

Question options:

bought equipment on account.

incurred an expense and paid it.not the answer

bought supplies for cash.

incurred an expense and didn't pay for the expense immediately.

+2

Answers (2)

Know the Answer?

Carlos Paul · Answer 1

Answer: incurred an expense and didn't pay for the expense immediately

Albert Mills · Answer 2

This is a Income and expenditure Account

Explanation: Bought equipment on account - Debit account

Incurred an Expense and paid - Debit Account

Bought Supplies for Cash - Debit Cash account and Credit supplies Account

Incurred an Expense and Didn't pay for the expense immediately - Credit Expense account, Debit Cash account

An asset would be debited and a liability would be credited if the businessQuestion options:bought equipment on account.incurred an expense and paid it.*not the answer*bought supplies for cash.incurred an expense and didn't pay for the expense immediately.

An asset would be debited and a liability would be credited if the business

Question options:

bought equipment on account.

incurred an expense and paid it.not the answer

bought supplies for cash.

incurred an expense and didn't pay for the expense immediately.