Boyce Company purchased office supplies costing $7,000 and debited Supplies for the ful amount. At the end of the accounting period, a physical count of office supplies revealed S1,800 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be A) debit Supplies Expense, S1,800; credit Supplies. S1,800 B) debit Supplies Expense, $5,200; credit Supplies. S5.200. C) debit Supplies, $5,200, credit Supplies Expense, $5,200 D) debit Supplies, S1,800; credit Supplies Expense, S1.800.

Boyce Company purchased office supplies costing $7,000 and debited Supplies for the ful amount. At the end of the accounting period, a physical count of office supplies revealed S1,800 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be A) debit Supplies Expense, S1,800; credit Supplies. S1,800 B) debit Supplies Expense, $5,200; credit Supplies. S5.200. C) debit Supplies, $5,200, credit Supplies Expense, $5,200 D) debit Supplies, S1,800; credit Supplies Expense, S1.800.

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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