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?