Smith Company purchased $100 of supplies for her business and paid immediately. She would record this transaction in the accounting equation by which of the following?
Decrease cash; increase supplies.

In the given transaction, the office supplies were purchased for $100 and it is paid immediately which means the balance of supplies is increased and the cash balance is decreased.

It gives a positive impact on the office supplies account and a negative impact on the cash balance under the current assets.

Smith Company purchased $100 of supplies for her business and paid immediately. She would record this transaction in the accounting equation by which of the following? Decrease cash; increase supplies.

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Smith Company purchased $100 of supplies for her business and paid immediately. She would record this transaction in the accounting equation by which of the following?
Decrease cash; increase supplies.