Assume that Osborne Consulting has supplies costing $600 at March 31. The supplies, purchased on March 5 for ($900) minus the supplies on hand at the end of March ($600) equals the value of the supplies used during the month ($300). The amount of supplies used during the month will become supplies expense. Journalize the required adjusting entry at the end of the month and show the relationship between the general journal, t- accounts and the general ledger accounts. GENERAL JOURNAL Date Account Debit Credit Mar 5 Supplies 900 Cash 900 Purchased office supplies GENERAL JOURNAL Date Account Debit Credit Let's assume that Osborne is preparing for a new accounting period. At the end of the current period, March 31, Osborne's revenues totaled $7,400. Also assume that the expenses for the period are as follows: Salaries $1,100; Rent $1,000; Supplies $300, Utilities $400 and Depreciation for Equipment $350. During this quarter, assume that Osborne paid out $3,200 to its shareholders. Prepare the necessary journal entry to close the dividends account for Osborne. GENERAL JOURNAL Date Account Debit Credit T-ACCOUNTS Let's assume that Osborne is preparing for a new accounting period. At the end of the current period, March 31, Osborne's revenues totaled $7,400. Also assume that the expenses for the period are as follows: Salaries $1,100; Rent $1,000; Supplies $300, Depreciation for Equipment $350 and Utilities $400. During this quarter, assume that Osborne paid out $3,200 to its shareholders. Prepare the necessary journal entry to close the expense accounts for Osborne. Enter the expense accounts in the journal entry in the order that they appear in the instructions. GENERAL JOURNAL Date Account Debit Credit Let's assume that Osborne is preparing for a new accounting period. At the end of the current period, March 31, Osborne's revenues totaled $7,400. Also assume that the expenses for the period are as follows: Salaries $1,100; Rent $1,000; Supplies $300, Utilities $400 and Depreciation for Equipment $350. During this quarter, assume that Osborne paid out $3,200 to its shareholders. Prepare the necessary journal entry to close the revenue account for Osborne. GENERAL JOURNAL Date Account Debit Credit T-ACCOUNTS