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3. On 1 July 2022, Linh DoAccounting Business had $1,500 of supplies. During the year, the company purchased $10,000 of supplies and debited Supplies. At
3. On 1 July 2022, Linh DoAccounting Business had $1,500 of supplies. During the year, the company purchased $10,000 of supplies and debited Supplies. At the end of the year 30 June 2023, there are $1,000 of supplies on hand. What is the adjusting entry to be made at the end of the financial year? The debit is (Account payable, account receivables, cash, supplies, invetory, cost of sales) and the credit is (9500, 500, 12500, 8500, 10000, 11500, 1050)
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