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ANTONII [103]
3 years ago
14

The following is a partial unadjusted Trial Balance.

Business
1 answer:
PilotLPTM [1.2K]3 years ago
5 0

Answer:

Supplies Expense         12500

Explanation:

<em>Bravo Unlimited</em>

<em>Adjustment Entry</em>

Date                          Particulars                     Debit           Credit

February 29          Supplies Expense         12500

                                      Supplies Account                       12500

( Opening bal+ purchases- Ending bal= Expense= 2000+ 12000- 1500= 12500

At the month end Supplies were used for $ 12500 and supplies on hand are $ 1500.

On 2nd Feb the supplies account totalled $ 14000 but $5000 supplies had been expensed  so the total amount of supplies used up is calculated by (Opening bal+ purchases- Ending bal= Expense) the formula given above.

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