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On January 1 2019 Biotek had $200 of supplies on hand. During the year the company purchased $1,300 of supplies and debited supplies inventory account.
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On January 1 2019 Biotek had $200 of supplies on hand. During the year the company purchased $1,300 of supplies and debited supplies inventory account. A count on December 31 determined that $90 of supplies are still on hand. Select the adjusting entries that need to be made on 31 December 2019.
Debit Supplies Expense 1269; Credit Supplies 1269
Debit Supplies 1300; Credit Account Payable 1300;
Debit Supplies 1269; Credit Account Payable 1269;
Debit Supplies Expense 1410; Credit Supplies Payable 1410
Debit Supplies Expense 1410; Credit Supplies 1410
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