Question

choose the answer.
how would you journalize the transaction \paid cash for supplies\ in an expanded journal?
debit cash and credit accounts payable
debit supplies and credit cash
debit purchases and credit accounts payable
debit cash and credit supplies

Explanation:

When a company pays cash for supplies, the asset account "Supplies" increases (debited) because the company now has more supplies (an asset). At the same time, the asset account "Cash" decreases (credited) because cash (an asset) is being used to make the purchase.

Answer:

debit Supplies and credit Cash