Answered

Westonci.ca is your go-to source for answers, with a community ready to provide accurate and timely information. Discover a wealth of knowledge from experts across different disciplines on our comprehensive Q&A platform. Get immediate and reliable solutions to your questions from a community of experienced professionals on our platform.

The supplies account had a beginning balance of $1,823. Supplies purchased during the period totaled $4,344. At the end of the period before adjustment, $286 of supplies were on hand. Prepare the adjusting entry for supplies. If an amount box does not require an entry, leave it blank.

Sagot :

Answer and Explanation:

The adjusting entry is as follows:

Supplies expense ($1,823 + $4,344 - $286) $5,881

   To supplies payable $5,881

(being the supplies expense is recorded)

Here the supplies expense is debited as it increased the expense and supply payable is credited as it also increased the liabilities

We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. We hope our answers were useful. Return anytime for more information and answers to any other questions you have. Keep exploring Westonci.ca for more insightful answers to your questions. We're here to help.