Question
The Smith Company had $1,200 in office supplies at the beginning of the fiscal year. At the end of the fiscal year, the Smith Company
The Smith Company had $1,200 in office supplies at the beginning of the fiscal year. At the end of the fiscal year, the Smith Company took an inventory of office supplies and determined that $400 worth of supplies remained unused in the supply room.
What is the journal entry to adjust for the use of supplies at the end of the fiscal year?
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Governmental and Nonprofit Accounting
Authors: Robert Freeman, Craig Shoulders, Gregory Allison, Robert Smi
10th edition
132751267, 978-0132751261
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