Business, 10.10.2019 17:30 erikloza12pdidtx

When alexander company purchased supplies for cash for $500, it incorrectly recorded the journal entry as a debit to supplies of $5,000 and a credit to cash of $5,000. before correcting this error:
a. cash is understated and supplies is overstated
b. cash is overstated and supplies is overstated
c. cash is understated and supplies is understated
d. cash is overstated and supplies is understated

Answers: 2

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When alexander company purchased supplies for cash for $500, it incorrectly recorded the journal ent...