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Question Ten [10%) (A) BioVert Company had $2,500 of store supplies on hand at the beginning of 2018. During 2018 BioVert purchased $250 worth of
Question Ten [10%) (A) BioVert Company had $2,500 of store supplies on hand at the beginning of 2018. During 2018 BioVert purchased $250 worth of store supplies. On December 31, 2018, $1,125 worth of store supplies remained. What is the amount of BioVert Company's store supplies expense for 2018? (B) During the year ended December 31, 2018, clients paid fees in advance for accounting services amounting to $45,000. These fees were recorded in an account called Unearned Accounting Service Revenue. If $30,000 of these fees are still unearned on December 31, 2018, what is the required December 31 adjusting entry? Account Title and Explanation Debit
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