Question
The Supplies account balance at the end of the period is $22,000. Supplies totaling $18,800 have been purchased during the period and debited to Supplies.
The Supplies account balance at the end of the period is $22,000. Supplies totaling $18,800 have been purchased during the period and debited to Supplies. A physical count shows $5,000 worth of supplies on hand at the end of the period. The proper adjusting entry is:
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Principles Of Financial Accounting
Authors: Jerry J. Weygandt, Lorena Mitrione, Michaela Rankin, Keryn Chalmers, Paul D. Kimmel
3rd Edition
0730302296, 978-0730302292
