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Zolol [24]
3 years ago
5

Cooper Law Offices has the following source document from one of its suppliers: Allen Office Supplies Description Quantity Price

per unit Total Legal paper 100 $ 15 $ 1,500 Ink cartridge 40 $ 30 $ 1,200 $ 2,700 Invoice Number:
Business
1 answer:
garik1379 [7]3 years ago
8 0

Answer:

Debit Supplies; Credit Accounts Payable for $2,700

Explanation:

Calculation to determine What should Cooper record on the date of the purchase

Based on the information given since the TOTAL OFFICE SUPPLIES is the amount of $2,700 calculated as Legal paper $1,500+ Ink cartridge $1,200 which means that the appropriate journal entry that Cooper should record on the date of the purchase will be :

Debit Supplies $2,700

Credit Accounts Payable $2,700

($1,500+$1,200)

(To record office Supplies)

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Discuss the Sarbanes-Oxley Act 2002 and how it helps curb accounting fraud.
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