Please need answer The balance in the office supplies accounton June 1 was $5,200, supplies purchasedduring June were $2,500, and the supplieson hand at June 30 were $1,500. Theamount to be used for the appropriateadjusting entry is:a. $6,700.b. $2,500.c. $9,200.d. $6,200.

Step 1: Introduction to the Adjusting EntriesPrepayments require adjustments when the expense for…

Answered: The balance in the office supplies…

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter7: Accounting For Cash

Section: Chapter Questions

Problem 4CE

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The balance in the office supplies account on June 1 was $5,200, supplies purchased during June were $2,500, and the supplies on hand at June 30 were $1,500. The amount to be used for the appropriate adjusting entry is: a. $6,700. b. $2,500. c. $9,200. d. $6,200.