Business, 04.12.2019 05:31 ananyaamazing

When alexander company purchased supplies for cash of $500, it incorrectly recorded the journal entry as a credit to supplies for $5,000 and a debit to cash for $5,000. before correcting this error:
a. cash is overstated and supplies is overstated.
b. cash is understated and supplies is understated.
c. cash is understated and supplies is overstated.
d. cash is overstated and supplies is understated

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