Supplies were purchased on January 1, to be used throughout the year, in the amount of $10,300. On December 31, a physical count revealed that the remaining supplies totaled $1,300. There was no beginning ofthe year balance in the Supplies account. Based on the information provided:A. Create journal entries for the original transaction. If an amount box does not require an entry, leave it blank.CashFeedback►Check My WorkFeedback10,300B. Create journal entries for the December 31 adjustment needed to bring the balances to correct. If an amount box does not require an entry, leave it blank.1,300 X►Check My Work10,3001,300 X C. Show the activity, with ending balance. If an amount box does not require an entry, leave it blank.SuppliesBeginning Balance $PurchasedSubtotalUsedRemaining

Name: Supplies were purchased on January 1, to be used throughout the year,
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Description: Supplies were purchased on January 1, to be used throughout the year, in the amount of $10,300. On December 31, a physical count revealed that the remaining supplies totaled $1,300. There was no beginning ofthe year balance in the Supplies account.

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Accounting

Supplies were purchased on January 1, to be used throughout the year, in the amount of $10,300. On December 31, a physical count revealed that the remaining supplies totaled $1,300. There was no beginning of the year balance in the Supplies account. Based on the information provided: A. Create journal entries for the original transaction. If an amount box does not require an entry, leave it blank. Cash -X 10,300 ✓ Feedback. Check My Work B. Create journal entries for the December 31 adjustment needed to bring the balances to correct. If an amount box does not require an entry, leave it blank. 1,300 X Feedback 10,300 ✓ Check My Work 1,300 X

Supplies were purchased on January 1, to be used throughout the year, in the amount of $10,300. On December 31, a physical count revealed that the remaining supplies totaled $1,300. There was no beginning of the year balance in the Supplies account. Based on the information provided: A. Create journal entries for the original transaction. If an amount box does not require an entry, leave it blank. Cash -X 10,300 ✓ Feedback. Check My Work B. Create journal entries for the December 31 adjustment needed to bring the balances to correct. If an amount box does not require an entry, leave it blank. 1,300 X Feedback 10,300 ✓ Check My Work 1,300 X

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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Based on the following information, prepare a check and stub: Date: January 15, 20-- Balance brought forward: $2,841.50 Deposit: $962.20 Check to: J. M. Suppliers Amount: $150.00 For: Office Supplies Signature: Sign your name
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