Answer:
Debit supplies expense $2,200
Credit office supplies $2,200
Explanation:
The beginning balance of $1,600 plus the purchases of $1,800 makes an available office supplies balance for the period in the amount of $3,400. A year-end physical count of $1,200 constitutes the remaining supplies balance at the period after they used up the $2,200 portion ($3,400 - $1,200). The appropriate journal entry at the year end is to recognize the expense portion of the supplies. Therefore, we have to debit supplies expense and credit office supplies in the amount of $2,200.
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Answer:
19.119
Explanation:
Based on the information given we were told that today's report reflected the prices for the month of June contract in which the Settle price was 19.119 which Simply means that the Settle price amount of 19.119 will be the price per troy ounce which will be used for today's marking-to-market for this contract.
Therefore the price per troy ounce that will be used for today's marking-to-market for this contract will be 19.119
"Respectfully" is the most appropriate closing. The other choices have a feeling of camaraderie to them that should be avoided in business correspondences.