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At 31 May 2021, the financial year-end of Kuruman Traders, the entitys accounting records showed that packing material of R24 300 was purchased during the
At 31 May 2021, the financial year-end of Kuruman Traders, the entitys accounting records showed that packing material of R24 300 was purchased during the financial year. A physical inventory count at year-end showed that packing material of R9 500 was still on hand. Which one of the options below reflects the correct entry for the necessary adjustment in the accounting records of Kuruman Traders for the year ended 31 May 2021
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