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Question 43 2 pts The trial balance for Black Corporation appears as follows: BLACK CORPORATION Trial Balance December 31, 20
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Answer #1

Unadjusted supplies = $180

Ending supplies = $40

Supplies expense = Unadjusted supplies - Ending supplies

= 180-40

= $140

On December 31, the following journal entry will be made for supplies expense:

Date General Journal Debit Credit
December 31 Supplies expense $140
Supplies $140
( To record supplies expense)

The adjusting entry would contain a debit to supplies expense $140 and a credit to supplies $140.

Kindly comment if you need further assistance. Thanks‼!

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