Answer:
Explanation:
Journal Entry: The journal entry shows the recording of transactions which follows double entry system./ Every account has double entry. In journal entry, there is one debit and one credit side. Debit side records expenses and losses whereas credit side records income and gains.
Since, in the given question, the laundry supplies purchase on Jun 2 which is $6,500 but on June 30, it only holds $1,500. So, on June 30, the company has $6,500 - $1,500 = $4,000 supplies.
And, the company purchase supplies so it is a expense for a company which would be debited in respect to laundry supplies
Hence, The adjusting entry would be
Laundry supplies expense A/c Dr $4,000
To Laundry supplies $4,000
(Being laundry supplies adjusted)
