a-company-purchased-1000-worth-of-supplies-at-the-beginning-of-the-month-at-the-

Question

A company purchased $1,000 worth of supplies at the beginning of the month. At the end of the month, $200 worth of supplies remain. What is the adjusting entry?

Accepted Answer

Debit Supplies Expense $800; Credit Supplies $800

Answer

Debit Supplies Expense $200; Credit Supplies $200

Answer

Debit Supplies $200; Credit Supplies Expense $200

Answer

Debit Supplies $800; Credit Supplies Expense $800

A company purchased \$1,000 worth of supplies at the beginning of the month. At the end of the month, \$200 worth of supplies remain. What is the adjusting entry?