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why the purchase of supplies is usually recorded in an asset account rather than in an expense account.

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  • why the purchase of supplies is usually recorded in an asset account rather than in an expense account.


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... the buyer than to the seller. Technically, an expense is ... recorded as a debit to an expense account ... purchase of a capital asset such ...
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Positive: 92 %
... in which case the supplies expense account is ... in an asset account, such as Supplies ... recorded in the supplies expense account, ...
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Positive: 89 %

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Principles of Accounting.com: ... The initial purchase of supplies is recorded by debiting Supplies and ... (rather than crediting the asset account ...
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Positive: 92 %
Cash purchases are recorded by an ... to record supplies expense for the ... account is used rather than decreasing sales ...
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Positive: 87 %
Lesson 3: Adjusting the Accounts . ... such as selling services on account, or purchasing an asset. ... We look for the incurrence of the expense, rather ...
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Positive: 73 %
... purchases of inventory are recorded in a pur-chases account rather than in ... Office supplies expense ... 710 Interest Expense 66124_appC_C1-C14 ...
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Positive: 50 %

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