Question

The balanThe balance in the supplies account before adjustment at the end of the year is $780. The proper adjusting entry if the amount of supplies on hand at the end of the year is $255 would be in the supplies account before adjustment at the end of the year is $780. The proper adjusting entry if the amount of supplies on hand at the end of the year is $255 would be. Chegg

Answer 1

Answer:

Supplies at the year end before adjustment    $780

Supplies on the hand after adjustment             $225

Supplies Expenses                                             $555

Adjusting Entry           Debit    Credit

Supplies Expenses       $555

Supplies                                      $555