Published in category Business, 16.08.2020 >> <<

On March 8, Black Candy Company bought supplies on account from the Arcade Fire Company for $550. Black Candy Company incorrectly debited Equipment for $500 and credited Accounts Payable for $500. The entries have been posted to the ledger. the correcting entry should be:On March 8, Black Candy Company bought supplies on

a) Supplies.............................. 550

Equipment......................... 500

Accounts Payable............... 50

b) Supplies.............................. 550

Equipment.......................... 550

c) Supplies.............................. 550

Accounts Payable............... 550

d) Supplies.............................. 550

Accounts Payable............... 500

Equipment......................... 50