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Current Attempt in Progress Ritter Advertising Company's trial balance at December 31 shows Supplies $ 6,700 and Supplies Expense $0. On December 31, ther are $ 2,500 of supplies on hand. Prepare the adjusting entry at December 31, and using T-accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted balance in each account. (Credit account titles are automatically indented when the amount is entered. Do not indent manually) Date Account Titles Debit Credit Dec. 31 supplies expense 4200 supplies 4200 Supplies 12/31 6700 12/31 Supplies Expense

Current Attempt in Progress Ritter Advertising Company's trial balance at December 31 shows Supplies $ 6,700 and Supplies Expense $0. On December 31, ther are $ 2,500 of supplies on hand. Prepare the adjusting entry at December 31, and using T-accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted balance in each account. (Credit account titles are automatically indented when the amount is entered. Do not indent manually) Date Account Titles Debit Credit Dec. 31 supplies expense 4200 supplies 4200 Supplies 12/31 6700 12/31 Supplies Expense

FINANCIAL ACCOUNTING
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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Current Attempt in Progress Ritter Advertising Company's trial balance at December 31 shows Supplies $ 6,700 and Supplies Expense $0. On December 31, there are $ 2,500 of supplies on hand. Prepare the adjusting entry at December 31, and using T-accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted balance in each account. (Credit account titles are automatically indented when the amount is entered. Do not indent manually) Date Account Titles Debit Credit Dec. 31 supplies expense 4200 supplies 4200 Supplies 12/31 6700 12/31 Supplies Expense
Transcribed Image Text:Current Attempt in Progress Ritter Advertising Company's trial balance at December 31 shows Supplies $ 6,700 and Supplies Expense $0. On December 31, there are $ 2,500 of supplies on hand. Prepare the adjusting entry at December 31, and using T-accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted balance in each account. (Credit account titles are automatically indented when the amount is entered. Do not indent manually) Date Account Titles Debit Credit Dec. 31 supplies expense 4200 supplies 4200 Supplies 12/31 6700 12/31 Supplies Expense
Supplies 12/31 6700 12/31 Supplies Expense
Transcribed Image Text:Supplies 12/31 6700 12/31 Supplies Expense
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