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DedPeter [7]
3 years ago
7

The don't bite me pest control company has 11,400 gallons of insecticide supplies on hand that cost $342,000; a bill from the ve

ndor for $240,000 of these supplies has not yet been paid. the company expects to earn $814,000 for its services when it uses the insecticide supplies. the company's balance sheet would include an asset, supplies, in the amount of:
Business
1 answer:
Pie3 years ago
3 0
$342,000

 Regardless if the amount of supplies has not been paid or not, it is still accounted for in the balance sheet. You would have a debit of 342,000 for supplies, credit of supplies payable of 240,000 and a credit to cash for 102,000 assuming that the difference between both amounts was paid for with cash.


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