Question:If the supplies account (assets), before adjustment on May 31, indicated a balance of $2,250, and the supplies on hand on May 31 totaled $950, the adjusting entry would be: 

A Debit supplies, $1,300; credit supplies expense, $1,300 

B Debit supplies, $950; credit supplies expense, $950 

C Debit supplies expense, $950; credit supplies, $950 

D Debit supplies expense, $1,300; credit supplies, $1,300 

+ Answer
+ Explanation
+ Report
Total Preview: 1309

Copyright © 2024. Powered by Intellect Software Ltd