Question 1

The asset account, Office Supplies had a beginning balance of $5,700. During the accounting period, office supplies were purchased, on account, for $5,100. A physical count, on the last day of the accounting period, shows $2,000 of office supplies on hand. What is the amount of Supplies Expense to be debited as part of the adjusting journal entry?

		$5,100
		$8,800
		$2,600
		$3,700