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Foley Advertising Company's trial balance at December 31 shows Supplies $8, 880 and Supplies Expense $0. On December 31, there are $2, 180 of supplies
Foley Advertising Company's trial balance at December 31 shows Supplies $8, 880 and Supplies Expense $0. On December 31, there are $2, 180 of supplies on hand. Prepare the adjusting entry at December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Using T-accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted balance in each account
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