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As of December 31,2019 Apple has a debit balance of $2,230.00 in its supplies account. The actual Supplies inventory is $1,000 of Gardening supplies. Referring
As of December 31,2019 Apple has a debit balance of $2,230.00 in its supplies account. The actual Supplies inventory is $1,000 of Gardening supplies. Referring to the above, which one of the following is the appropriate adjusting journal entry?
- Debit supplies. Credit Supplies Expense $1000
- Debit Supplies expense $1230, Credit Supplies $1230
- Debit Supplies $1230, Credit Supplies expense $1230
- Debit Supplies Expense $2230, Credit Supplies $2230
- Debit Supplies Expense $1000, Credit Supplies $1000
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