Question

The balance in the office supplies account on January 1 was $7,000, supplies purchased during January were $3,000, and the supplies on hand on January 31 were $2,000. The amount to be used for the appropriate adjusting entry is _________.

Answer 1

Answer:

$8000

Explanation:

Office supplies  beginning     jan-1  $7000

                           purchase               $3000

                           consumed                  x

                            ending        jan-31 2000        

                             

Ending=beginning + purchase - consumed

           =8000