Adjusting Entry for Supplies The balance in the supplies account, before adjustment at the end of the year, is $4,850. Journalize the adjusting entry required if the amount of supplies on hand at the end of the year is $880.

Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter3: The Adjusting Process
Section: Chapter Questions
Problem 12E: Determining supplies purchased The supplies and supplies expense accounts at December 31, after...
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Adjusting Entry for Supplies

The balance in the supplies account, before adjustment at the end of the year, is $4,850.

Journalize the adjusting entry required if the amount of supplies on hand at the end of the year is $880.

       
       
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