Questions: Specter Consulting purchased 7,600 of supplies and paid cash immediately. Which of the following general journal entries will Specter Consulting make to record this transaction? Multiple Choice Account Title Debit Credit ------------------------------ Supplies 7,600 Cash 7,600 Account Title Debit Credit ------------------------------ Supplies Expense 7,600 Accounts Payable 7,600 Account Title Debit Credit ------------------------------ Supplies 7,600 Accounts Payable 7,600 Account Title Debit Credit ------------------------------ Cash 7,600 Supplies 7,600

The answer is:

\[ \begin{tabular}{|c|c|c|} \hline Account Title & Debit & Credit \\ \hline Supplies & 7,600 & \\ \hline Cash & & 7,600 \\ \hline \end{tabular} \]

This option correctly records the purchase of supplies with cash. The Supplies account is debited because it is an asset account that increases with the purchase. The Cash account is credited because cash is an asset account that decreases when cash is paid out.

This option is incorrect because it records the transaction as a supplies expense and uses Accounts Payable. Since the payment was made in cash immediately, Accounts Payable should not be used, and Supplies Expense is not appropriate unless the supplies are immediately used up.

This option is incorrect because it uses Accounts Payable instead of Cash. Since the payment was made immediately in cash, Accounts Payable is not involved in this transaction.

This option is incorrect because it reverses the accounts. It debits Cash and credits Supplies, which would imply that cash is increasing and supplies are decreasing, which is the opposite of what occurred in this transaction.