General Accounting 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: Identify starting balance of supplies.Step 2: Add supplies purchased during the period.Step…

Answered: The balance in the office supplies…

Principles of Accounting Volume 2

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Chapter7: Budgeting

Section: Chapter Questions

Problem 12EB: Drainee purchases direct materials each month. Its payment history shows that 65% is paid in the...

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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.