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LiRa [457]
3 years ago
5

At the beginning of December, ABC Company had $1,500 in supplies on hand. During the month, supplies purchased amounted to $2,90

0, buy by the end of the month the supplies balance was only $2,200. What is the appropriate month-end adjusting entry
Business
1 answer:
natta225 [31]3 years ago
4 0

Answer and Explanation:

The adjusting entry is as follows:

Supplies expense Dr $2,200

      To Supplies $2,200

(being the supplies expense is recorded)

Here the supplies expense is debited as it increased the expenses and credited the supplies as it decreased the assets

The computation is

= Opening supplies + purchased - closing supplies

= $1,500 + $2,900 - $2,200

= $2,200

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Answer:

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The correct answer to this open question is the following.

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