Business, 17.04.2020 16:19 achaney6733

A company purchased office supplies costing $3,000 and debited Office Supplies for the full amount. At the end of the accounting period, a physical count of office supplies revealed $600 still on hand.
The appropriate adjusting journal entry to be made at the end of the period would be:

a) debit Office Supplies Expense, $3,600; credit Office Supplies, $3,600.
b) debit Office Supplies, $600; credit Office Supplies Expense, $600.
c) debit Office Supplies Expense, $2,400; credit Office Supplies, $2,400.
d) debit Office Supplies, $2,400; credit Office Supplies Expense, $2,400.

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A company purchased office supplies costing $3,000 and debited Office Supplies for the full amount....

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