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On July 5, Harris Company purchased supplies from the hardware store for $600 on account. On July 10, Harris receives a bill from the hardware store as a reminder about the account balance. On July 17, Harris pays the account in full. How does Harris record the transaction on July 17?

Respuesta :

Manetho

Answer:

Debit Accounts Payable 600, Credit Cash 600

Explanation:

as goods are purchased on credit initially it will be recorded on parable.

And when it will be paid the general entry will be:-

Account payable debit =600

cash credit = 600

Harris record the transaction on July 17

Debit Accounts Payable 600,

Credit Cash 600

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