Question
At March 1, 2020, Marigold Corp. had supplies on hand of $470. During the month, Minutemen purchased supplies of $1320 and used supplies of $1450.
At March 1, 2020, Marigold Corp. had supplies on hand of $470. During the month, Minutemen purchased supplies of $1320 and used supplies of $1450. The March 31 adjusting journal entry should include a
A. debit to the supplies account for $1320.
B. credit to the supplies account for $1450.
C. debit to the supplies account for $1450.
D. credit to the supplies account for $470.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
College Accounting Chapters 1-27
Authors: James A. Heintz, Robert W. Parry
23rd edition
1337794759, 978-1337794756
