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22 December, 06:08

On January 15, 2016, Bravo Company purchased $4,000 of construction supplies, on account, from the Zulu Company. Prepare Bravo Company's general journal entry (without explanation). If no entry is required then write "No Entry Required."

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  1. 22 December, 08:40
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    Construction Supplies (Dr.) $4,000

    Accounts Payable (Cr.) $4,000

    Explanation:

    When The Bravo Company purchases construction supplies of $4,000 from The Zulu then Journal entry is required to record this transaction. The transaction will have Construction Supplies or Purchases account debited with $4000 whereas Accounts Payable is credited with $4000 because the supplies are purchased on account.
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