Recognizing Expenses} Troika Dental Services gives each of its patients a toothbrush with the name and phone
Question:
Recognizing Expenses}
Troika Dental Services gives each of its patients a toothbrush with the name and phone number of the dental office and a logo imprinted on the brush. Troika purchased 15,000 of the toothbrushes in October 2018 for \(\$ 3,130\). The toothbrushes were delivered in November and paid for in December 2018. Troika began to give the patients the toothbrushes in February 2019. By the end of \(2019,4,500\) of the toothbrushes remained in the supplies account.
Required:
1. How much expense should be recorded for the 15,000 toothbrushes in 2018 and 2019 to properly match expenses with revenues?
2. Describe how the 4,500 toothbrushes that remain in the supplies account will be handled in 2020 .
\section*{OBJECTIVE 12 Exercise
Step by Step Answer:
Cornerstones Of Financial Accounting
ISBN: 9780176707125
2nd Canadian Edition
Authors: Jay Rich, Jefferson Jones, Maryanne Mowen, Don Hansen, Donald Jones, Ralph Tassone