CH 5

Q 1

Your firm buys $27,000 of office supplies and debits Supplies Expense. If, at year end, $6,000 of supplies are on hand, what adjusting entry will you record? (first line debit - second line credit) Select one: O a. Supplies On Hand 6,000 Supplies Expense 6,000 b. Supplies On Hand 21,000 Supplies Expense 21,000 c. Supplies Expense 6,000 Supplies On Hand 6,000 Od. Supplies Expense 21,000 Supplies On Hand 21,000 Check