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aleksley [76]
3 years ago
12

A company purchased $270,000 in supplies during the year. The supplies account increased by $10,000 during the year to an ending

balance of $66,000. For what amount was the adjusting entry to supplies expense? $300,000. $260,000. $280,000. $240,000.
Business
1 answer:
Arte-miy333 [17]3 years ago
7 0

Answer:

$260,000

Explanation:

Ending Balance of Supplies = $66,000

Beginning balance of Supplies = $66,000 - $10,000 = $56,000

Ending Balance of Supplies = Beginning balance of Supplies + Purchases for the period - Expense in the period

$66,000 = $56,00 + $270,00 - Expense in the period

Expense in the period = $260,000

The adjusting entry to supplies expense was $260,000.

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Answer:

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3 years ago
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Explanation:

Find the attachment

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