On March 1, SG Corporation had office supplies on hand of$900.During the month, SG purchased additional supplies costing $600.Approximately $400 of unused office supplies remain on hand at the end of the month.

Prepare the necessary adjusting entry on March 31 to account for office supplies.

b) The following account balances were taken from Cal Tour Corporations year-end adjusted trial balance (assume these are the companys only temporary accounts). Prepare the companys necessary closing entries.

Dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. $ 600

Service revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 19,800

Sales revenue3,000

Supplies expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 525

Rent expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 3,660