Homework Answers
Beginning supplies = $450
Supplies purchase = $3,900
Ending supplies = $950
Supplies expense = Beginning supplies + Supplies purchase - Ending supplies
= 450 + 3,900 - 950
= $3,400
Journal
|
Date |
Account Title and Explanation |
Debit |
Credit |
| 1 | Supplies expense | 3,400 | |
| Supplies | 3,400 | ||
| (To record supplies expense) |
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