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Brief Exercise 3-6 Record the adjusting entry for supplies (LO3-3) At the beginning of May, Golden Gopher Company reports a balance in Supplies of
Brief Exercise 3-6 Record the adjusting entry for supplies (LO3-3) At the beginning of May, Golden Gopher Company reports a balance in Supplies of $500. On May 15, Golden Gopher purchases an additional $3,300 of supplies for cash. By the end of May, only $300 of supplies remains. Required: 1.&2. Record the necessary entries in the Journal Entry Worksheet below. 3. Calculate the balances after adjustment on May 31 of Supplies and Supplies Expense. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 and 2 Required 3 Calculate the balances after adjustment on May 31 of Supplies and Supplies Expense. Ending Balance Supplies $ 2,500 X Supplies expense $ 2,500X Required 1 and 2 Required 3>
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