How much would a repair cost for a camcorder?

Office supplies were sold by J's Appliance Repair at cost to another repair shop, with cash received.?

• Office supplies were sold by J's Appliance Repair at cost to another repair shop, with cash received. Which of the following entries for J's Appliance Repair records this transaction? a.Office Supplies, debit; Cash, credit b.Office Supplies, debit; Accounts Payable, credit c.Cash, debit; Office Supplies, credit d.Accounts Payable, debit; Office Supplies, credit

• Answer:

  It would be A. The reason for this is simple: The Office Supplies are being sold which results in a Debit. The cash is being received which creates a credit for cash. It does not matter that it is at cost or not.