Question
Wikitekkee purchased supplies costing $4,000 and records the entire purchase as supplies expense on January 1, 2021. On December 31, 2021, the company have unused
Wikitekkee purchased supplies costing $4,000 and records the entire purchase as supplies expense on January 1, 2021. On December 31, 2021, the company have unused supplies of $2,000. Which one of the following would be recorded in the journal entry on December 31, 2021? A) Debit supplies expense $2,000. B) Debit supplies $2,000. C) Credit supplies expense $4,000. D) Debit supplies $4,000.
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Financial Accounting
Authors: David Spiceland, Wayne M. Thomas, Don Herrmann
5th edition
1259914895, 978-1259914898
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