Question

Journal entry worksheet < 3 4 5 6 The Office Supplies account had a $290 debit balance at the beginning of the year; and $2,680 of office supplies were purchased during the year. The December 31 physical count showed $342 of supplies available. Note: Enter debits before credits. Transaction General Journal Debit Credit c. Supplies expense Record entry Clear entry View general journal

Answer 1

Credit Debit 2,628 $ Account titles Supplies expense Office supplies (To record supplies used) $ 2,628

Work:

$ $ 2,628 Opening balance Bank (purchases) $ $ Office Supplies a/c 290 Supplies expense 2,680 Closing balance 2,970 $ $ 342 2,970 $

• Supplies consumed = beginning balance + purchase - closing balance = $290 + $2,680 - $342 = $2,628