Adler Advertising Companys trial balance at December 31 shows Advertising supplies. Supplies $8,800 and Advertising Supplies Expense

Question:

Adler Advertising Company’s trial balance at December 31 shows Advertising supplies. Supplies $8,800 and Advertising Supplies Expense $0. On December 31 there are $1,700

(SO 4) of supplies on hand. Prepare the adjusting entry at December 31 and, using T accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted balance in each account.

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