On February 1, Morgan Company purchased

$2,950

of supplies. Morgan Company recorded the transaction by debiting Supplies and crediting Cash. By the end of the calendar year,

$2,140

of supplies remains.\ Required:\ Journalize the adjusting entry on December 31.\ \\\\table[[Account Title,Debit,Credit,,],[Dec.,31,Supplies Expense,,,],[,,Supplies,,,],[,,,,,]]

On February 1, Morgan Company purchased $2,950 of supplies. Morgan Company recorded the transaction by debiting Supplies and crediting Cash. By the end of the calendar year, $2,140 of supplies remains. Required: Journalize the adjusting entry on December 31