Unadjusted Trial Balance Debit Credit 23,000 35,000 3,600 1,400 185,000 160,000 Cash Accounts Receivable Prepaid Insurance...

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Unadjusted Trial Balance Debit Credit 23,000 35,000 3,600 1,400 185,000 160,000 Cash Accounts Receivable Prepaid Insurance Su

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Answer 1

Answer #1

There is only 1 adjusting entry which is given below

Adjusting entry
General journal	Debit	Credit
Supplies expense	$ 400.00
Supplies		$ 400.00
(To record supplies expense)

Supplies used will be recorded as supplies expense and at same time supplies balance will be reduced by the amount of supplies used.

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Answer 2

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