At the beginning of December, Coastal Corporation had $1,700 in supplies on hand. During the month, supplies purchased amounted to $3,700, but by the end of the month the supplies balance was only $2,200. What is the appropriate month-end adjusting entry? Multiple Choice Debit Cash $2,200, credit Supplies $2,200 Debit Supplies $3,200, credit Supplies Expense $3,200 Debit Supplies Expense $3,200, credit Supplies $3,200 Debit Cash $3,200, credit Supplies $3,200

At the beginning of December, Coastal Corporation had $1,700 in supplies on hand. During the month, supplies purchased amounted to $3,700, but by the end of the month the supplies balance was only $2,200. What is the appropriate month-end adjusting entry? Multiple Choice Debit Cash $2,200, credit Supplies $2,200 Debit Supplies $3,200, credit Supplies Expense $3,200 Debit Supplies Expense $3,200, credit Supplies $3,200 Debit Cash $3,200, credit Supplies $3,200

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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