Question

The adjusting entry to account for use of supplies consists of a: Multiple Choice debit to Supplies Expense and a credit to Supplies. debit to Supplies and a credit to Supplies Expense. debit to Supplies and a credit to Accumulated Depreciation. debit to Accumulated Depreciation and a credit to Supplies.

Answer 1

Answer:

debit to Supplies Expense and a credit to Supplies

Explanation:

The adjusting entry to use the supplies is shown below:

Supplies expense Dr XXXXX

           To Supplies XXXXX

(Being the supplies is adjusted)

For recording the adjusting journal entry, we debited the supplies expense and credited the supplies so that the proper posting could be done

Hence, the first option is correct