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Student Center | ismail ibrahim (.Lo Question #3 tagle Inc. has supplies on hand of $2.300 on January 1, 2014. During the year, the company purchases $1,900 of supplies. At the end of the year, there are $200 of supplies on hand. A) What is the amount of supplies that were used up during the year? b) What adjusting journal entry does Eagle inc. need to make at December 31, 2014 to record the amount of supplies used up? Cr Try Again of 5 Attempts Used 1
Question #3 Windward Inc. has supplies on hand of $2,600 on January 1, 2014. During the year, the company purchases $1,000 of supplies. At the end of the year, there are $300 of supplies on hand. A) What is the amount of supplies that were used up during the year? ) What adjusting journal entry does Windward Inc need to make at December 31, 2014 to record the amount of supplies used up? Cr of 5 Attempts Usedl 0
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Question #3 Eagle Inc, A) Answer Particulars Supplies on hand as on 01-Jan-2014 Add:- Purchases of supplies Less:- Closing supplies on hand Supplies used up during the year Amount 2,300 1,900 (200) 4,000 B) Answer Adjusting entry at Dec, 31, 2014 Particulars Supplies Expense Debit Credit 4,000 To Supplies 4,000 Question #3 Windward Inc, A) Answer Particulars Supplies on hand as on 01-Jan-2014 Add:- Purchases of supplies Less : - Closing supplies on hand Supplies used up during the year Amount 2,600 1,000 (300) 3,300 B) Answer Adjusting entry at Dec, 31, 2014 Particulars Supplies Expense Debit Credit 3,300 To Supplies 3,300

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