Q/16

In the beginning of the year, Cameron purchased $3,000 worth of office supplies for his home office which resulted in a debit to Supplies. On December 31, he took inventory of his office supplies and noticed that he had about $700 worth of supplies left to use. Which of the following would be a part of the journal entry to account for the use of supplies?

a. Supplies: debited $700

b. Cash: credited $2,300

c. Supplies: credited $2,300

d. Supplies expense: credited $2,300