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Which Entry Below would be part of the Adjusting Journal Entry at Month END to record the Following; Our Business purchased $2,000 of Supplies early
Which Entry Below would be part of the Adjusting Journal Entry at Month END to record the Following; Our Business purchased $2,000 of Supplies early in the Month and then counted $500 in Supplies on hand at the END of the Month. Credit to Supplies Expense $1,500 Credit to Accumlated Depreciation on Equipment \$1.500 Credit to Cash for $500 Credit to Supplies for $500 Credit to Supplies for $1,500
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