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Supplies were purchased on January 1, to be used throughout the year, in the amount of $9,600. On December 31, a physical count revealed that
Supplies were purchased on January 1, to be used throughout the year, in the amount of $9,600. On December 31, a physical count revealed that the remaining supplies totaled $1,900. There was no beginning of the year balance in the Supplies account. Based on the information provided: A. Create journal entries for the original transaction. If an amount box does not require an entry, leave it blank. B. Create journal entries for the December 31 adjustment needed to bring the balances to correct. If an amount box does not require an entry, leave it blank. C. Show the activity, with ending balance. If an amount box does not require an entry, leave it blank. Supplies Beginning Balance $ Purchased Subtotal Used Remaining
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