Question
The supplies account had a beginning balance of $3,375 and was debited for $6,450 for supplies purchased during the year. Journalize the adjusting entry required
The supplies account had a beginning balance of $3,375 and was debited for $6,450 for supplies purchased during the year.
Journalize the adjusting entry required at the end of the year (December 31), assuming the amount of supplies on hand is $2,980.
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Financial Accounting IFRS
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
2nd edition
1118285909, 1118285905, 978-1118285909
