A1 Service Company purchased office supplies costing $7,000 and debited Supplies for the full amount. At the end of the accounting period, a physical count of office supplies revealed $1,800 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be O debit Supplies Expense, $5,200; credit Supplies, $5,200. O debit Supplies, $1,800; credit Supplies Expense, $1,800. O debit Supplies, $5,200; credit Supplies Expense, $5,200. debit Supplies Expense, $1,800; credit Supplies, $1,800.
A1 Service Company purchased office supplies costing $7,000 and debited Supplies for the full amount. At the end of the accounting period, a physical count of office supplies revealed $1,800 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be O debit Supplies Expense, $5,200; credit Supplies, $5,200. O debit Supplies, $1,800; credit Supplies Expense, $1,800. O debit Supplies, $5,200; credit Supplies Expense, $5,200. debit Supplies Expense, $1,800; credit Supplies, $1,800.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![A1 Service Company purchased office supplies costing $7,000 and debited Supplies for the full amount. At the end of the
accounting period, a physical count of office supplies revealed $1,800 still on hand. The appropriate adjusting journal
entry to be made at the end of the period would be
O debit Supplies Expense, $5,200; credit Supplies, $5,200.
O debit Supplies, $1,800; credit Supplies Expense, $1,800.
O debit Supplies, $5,200; credit Supplies Expense, $5,200.
debit Supplies Expense, $1,800; credit Supplies, $1,800.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc60a109f-3467-4f9d-bb67-c5e57762f45a%2Fabb89ca0-7dd9-4716-ae6e-8c6709e606fc%2Fb8m90t_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A1 Service Company purchased office supplies costing $7,000 and debited Supplies for the full amount. At the end of the
accounting period, a physical count of office supplies revealed $1,800 still on hand. The appropriate adjusting journal
entry to be made at the end of the period would be
O debit Supplies Expense, $5,200; credit Supplies, $5,200.
O debit Supplies, $1,800; credit Supplies Expense, $1,800.
O debit Supplies, $5,200; credit Supplies Expense, $5,200.
debit Supplies Expense, $1,800; credit Supplies, $1,800.
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