Question

he supplies account had a beginning balance of $4,010 and was debited for $1,680 for supplies purchased during the year. Journalize the adjusting entry required at the end of the year, assuming the amount of supplies on hand is $1,540.

Answer 1

Supplies beginning = $4,010

Supplies purchases = $1,680

Supplies ending = $1,540

Supplies expense = Supplies beginning+Supplies purchases-Supplies ending

= 4,000+1,680-1,540

= $4,140

Journal

Date	General Journal	Debit	Credit
	Supplies expense	$4,140
	Supplies		$4,140

Kindly give a positive rating if you are satisfied with this solution and please ask if you have any query.

Thanks