Adjustment for Supplies On December 31, the trial balance indicates that the supplies account has a balance, prior to the adjusting entry, of $320. A physical count of the supplies inventory shows that $90 of supplies remain. Analyze this adjustment for supplies using T accounts, and then formally enter this adjustment in the general journal. (Trial balance is abbreviated as TB.)

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Adjustment for Supplies

On December 31, the trial balance indicates that the supplies account has a balance, prior to the adjusting entry, of $320. A physical count of the supplies inventory shows that $90 of supplies remain.

Analyze this adjustment for supplies using T accounts, and then formally enter this adjustment in the general journal. (Trial balance is abbreviated as TB.)

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