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podryga [215]
3 years ago
8

Supplies at the beginning of the year totaled $2,000. During 2021, additional supplies of $18,000 were purchased, and the entire

amount was debited to Supplies. Supplies remaining at the end of the year total $4,000. Record the adjusting entry for supplies at its year-end of December 31.
Business
1 answer:
lbvjy [14]3 years ago
3 0

Answer:

supplies expense    16,000 debit

             supplies                     16,000 credit

Explanation:

beginning supplies

<u>+ purchase of supplies</u>

available for use

<u>-ending supplies (supplies at hand)</u>

used supplied

2,000 + 18,000 = 20,000

ending supplies:    4,000

supplies expense 16,000

we will decrease the supplies account and declare the expense.

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