The supplies account had a beginning balance of $1,580. Supplies purchased during the period totaled $4,458. At the end of the period before adjustment, $398 of supplies was on hand.

Required:

Prepare the adjusting entry for supplies on December 31. Refer to the Chart of Accounts for exact wording of account titles.

Prepare the adjusting entry for supplies on December 31. Refer to the Chart of Accounts for exact wording of account titles. PAGE JOURNAL DATE POST. REF DEBIT CREDIT