Regent Tax Services ofice supplies account balance on March I was 1400, the company purchased 675...

Question

Question

Answer 1

Answer #1

Adjusting entry is passed with the amount of supplies used during the period

i.e. Beginning Balance + Purchases - ending balance

= 1400+675-1250

= $825

The entry is to debit supplies expense and credit supplies account

Hence, the answer is $825

Answer 2

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