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Metlock, Inc. has an opening balance in its supplies account of $2160 and purchases $2700 of supplies during the year. A year end physical count

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Metlock, Inc. has an opening balance in its supplies account of $2160 and purchases $2700 of supplies during the year. A year end physical count shows $2520 in supplies inventory. Which is the appropriate journal entry at year end? Or Supplies $2340 or Supplies Expense $2340 De Supplies 52700 Cr Cash 42700 Dr Supplies $2340 Sopplies 52340 Oor Supplies Expense $2520 Cr Supplies 52520

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