QUESTION The Office Supplies" account had a beginning balance of $6,000. During the month, the firm purchased $2,500 of office supplies, properly recorded. The end of year
inventory of the supplies determines that the firm has $3,300 supplies still on hand. What is the proper adjusting entry?
Debit: Office Supplies
3,300
Debit: Office Supplies Expense 2,500
Credit:
Office Supplies Payable
5,800
5.200
Office Supplies
5.200
Debit: Office Supplies Expense
Credit:
Debit: Office Supplies
Debit: Office Supplies Expense
3,300
2.500
Credit:
Retained Earnings
6,000
Debit: Office Supplies Expense
3,300
Credit:
Office Supplies
3,300
Debit: Office Supplies
5.200
Credit:
Office Supplies Expense
5.200
Sve A Answe