On March 1, FBM Corporation had office supplies on hand of $1,000. During the month, FBM purchased additional supplies costing $500. Aproximately $200 of unused office supplies remain on hand at the end of the month. I need prepare the neccesary adjusting entry on March 31 to account for office supplies.
On March 1, FBM Corporation had office supplies on hand of $1,000. During the month, FBM purchased additional supplies costing $500. Aproximately $200 of unused office supplies remain on hand at the end of the month. I need prepare the neccesary adjusting entry on March 31 to account for office supplies.
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