Sunland Company purchased supplies costing S7030 and debited Supplies for the full amount. At the end of the accounting perioda physical count of supplies revealed $1870 still on hand. The appropriate adjusting Journal entry to be made at the end of the period would be O Debit Supplies Expense, 51870. Credil Supplies 51870 Debil Supplies 55160; Credit Supplies Experse. 55160. Debit Supplies, $1870. Credit Supplies Expense S1870.

Sunland Company purchased supplies costing S7030 and debited Supplies for the full amount. At the end of the accounting perioda physical count of supplies revealed $1870 still on hand. The appropriate adjusting Journal entry to be made at the end of the period would be O Debit Supplies Expense, 51870. Credil Supplies 51870 Debil Supplies 55160; Credit Supplies Experse. 55160. Debit Supplies, $1870. Credit Supplies Expense S1870.

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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