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dimulka [17.4K]
3 years ago
14

Assume that during the month, supplies (asset) was debited $2,600 for supplies purchased. the total cost of supplies used during

the month was $1,900. record the adjustment to properly reflect the amount of supplies used and supplies still on hand at the end of the month..
Business
1 answer:
xxTIMURxx [149]3 years ago
4 0
At the time of the transaction, you would have the following entry:

Supplies 2,600
                  Cash 2,600 ( assuming it was paid in cash)

At the end of the month you would have the following entry:

Supplies expense 1,900
                 Supplies 1,900
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