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Buying supplies and inventory

Buying supplies and inventory: Accounting Foundations: Bookkeeping
Buying supplies and inventory: Accounting Foundations: Bookkeeping

When buying supplies and inventory, the journal entries recognize that you are trading one asset for another. You have less cash. That requires a credit to the cash account. And you have more inventory, which is an asset, increases with a debit.

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Skill Level Beginner
1h 39m
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Skills covered in this course
Business Accounting Business Skills Marketing Finance

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