Question
An organization's account for office supplies on hand had a balance of S9,000 at the end of year one. During year two. the organization recorded
An organization's account for office supplies on hand had a balance of S9,000 at the end of year one. During year two. the organization recorded an expense of $45,000 for purchasing office supplies. At the end of year two. a physical count determined that the organization has $11,500 in office supplies on hand. Based on this information, what would be recorded in the adjusting entry at the end of year two? A. A debit to office supplies on hand for S2.500 B. A debit to office supplies on hand for $11,500 C. A debit to office supplies on hand for S20.500 D. A debit to office supplies on hand for S42.500
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