The office supplies account is an asset account in which its normal balance is on the debit side. Under Presidential national emergency powers OFAC carries out its activities against foreign states as well as a variety of.
Are Office Supplies Categorised As Assets Or Expenses Youtube
So in this journal entry total assets on the balance sheet decrease while the total expenses on the income statement increase.
. Treasury DepartmentIt administers and enforces economic and trade sanctions in support of US. The Office of Foreign Assets Control OFAC is a financial intelligence and enforcement agency of the US. Likewise the credit of office supplies in this journal entry represents the office supplies used during the period.
National security and foreign policy objectives.
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