Homework Answers
Beginning supplies = $6,700
Ending supplies = $2,500
Supplies expense = Beginning supplies - Ending supplies
= 6,700 - 2,500
= $4,200
Journal
| Dec.31 | Supplies expense | $4,200 | |
| Supplies | $4,200 |
Supplies
| Beginning balance | 6,700 | Supplies expense | 4,200 |
| Ending balance | 2,500 |
Supplies expense
| Beginning balance | 0 | ||
| Supplies | 4,200 | ||
| Ending balance | 4,200 |
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