Question
On January 1, Coleman Company purchased $3,060 of supplies on account. On January 1, Coleman Company debited Supplies Expense, which is an alternate way of
On January 1, Coleman Company purchased $3,060 of supplies on account. On January 1, Coleman Company debited Supplies Expense, which is an alternate way of recording the initial expenditure. By the end of the calendar year, $550 of supplies was used.
Required:
Journalize the adjusting entry on December 31.
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Financial and Managerial Accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
3rd edition
978-1-119-3916, 1119392132, 1119392136, 9781119391609, 1119391601, 978-1119392132
