Balance in supplies account before adjustment = $725
Ending supplies = $300
Supplies expense = Balance in supplies account before adjustment - Ending supplies
= 725-300
= $425
The adjusting entry to record supplies expense would be:
General Journal | Debit | Credit |
Supplies expense | $425 | |
Supplies | $425 |
Second option is correct option.
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The balance in the supplies account, before adjustment at the end of the year is $725....
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