Company A used $3,000 worth of office supplies this year but the costs were not paid for until next year. Which of the following is not a result of this transaction?
a. An expense of $3,000 is recorded on this year’s income statement.
b. There is a $3,000 credit in cash on the balance sheet.
c. An accrued expense of $3,000 is recorded as current liabilities on the balance sheet.
d. There is a $3,000 credit in office supplies on the balance sheet.