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On January 1, 2020 Larsen company had a balance of $10,000 in office supplies, on January 10, the company purchased office supplies for $7,000 cash
On January 1, 2020 Larsen company had a balance of $10,000 in office supplies, on January 10, the company purchased office supplies for $7,000 cash and debited supplies for the full amount. At January 31, a physical count of supplies showed that supplies of $6,000 were used. The appropriate adjusting entry on January 31 would be Select one: Debit Office Supplies Expense, $11,000; Credit Office Supplies, $11,000. Debit Office Supplies, $6,000; Credit Office Supplies Expense, $6,000. Debit Office Supplies, $11,000; Credit Office Supplies Expense, $11,000. Debit Office Supplies Expense, $6,000; Credit Office Supplies, $6,000
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