Journalize this transaction as if jumpstart paid cash

Answers

Answer 1

The journal entry for the provided transaction is recorded by debiting the office supplies and crediting the cash with equal amounts of $870.

What is a journal entry?

A journal entry is an entry passed in the book of the journal to record the financial transactions of a company.

The journal entry is recorded as follows:

Date          Particulars                         Debit          Credit

Jan 12         Office supplies                    870

                      Cash                                                      870

                  (To record the purchase of office supplies in cash)

The complete question should be as follows:

On January 12, JumpStart purchased $870 in office supplies. (a) Journalize the transaction as if JumpStart paid cash.

Therefore, the journal entry is described and recorded as above.

Learn more about the journal entry in the related link:

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