Question S Bee-in-The-Bonnet Company purchased office supplies costing $8,000 and debited Supplies for the full amount. At the end of the accounting period, a physical count of supplies revealed $2,200 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be Debit Supplies Expense, $2.200: Credit Supplies, $2,200 O Debit Supplies, 55,800; Credit Supplies Expense, $5.800. Debit Supplies Expense, $5.800: Credit Supplies, $5.800. ⒸDebit Supplies, $2,200; Credit Supplies Expense, $2.200

Question S Bee-in-The-Bonnet Company purchased office supplies costing $8,000 and debited Supplies for the full amount. At the end of the accounting period, a physical count of supplies revealed $2,200 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be Debit Supplies Expense, $2.200: Credit Supplies, $2,200 O Debit Supplies, 55,800; Credit Supplies Expense, $5.800. Debit Supplies Expense, $5.800: Credit Supplies, $5.800. ⒸDebit Supplies, $2,200; Credit Supplies Expense, $2.200

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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