Journal entry worksheet1The Store Supplies account had a $1,030 debit balance at the beginning of theyear, and $4,770 of store supplies were purchased during the year. TheDecember 31 end of year physical count showed $1,230 of store suppliesavailable. Prepare the December 31 adjusting entry.Note: Enter debits before credits.Transactiona.Record entryGeneral JournalClear entryDebitCreditView general journal

Adjusting entry is the one which is reported in the books in order to adjust the accounts at the end…

The Store Supplies account had a $1,030 debit balance at the beginning of the the year. The year, and $4,770 of store supplies were purchased during December 31 end of year physical count showed $1,230 available. Prepare of store supplies the December 31 adjusting entry.

The Store Supplies account had a $1,030 debit balance at the beginning of the the year. The year, and $4,770 of store supplies were purchased during December 31 end of year physical count showed $1,230 available. Prepare of store supplies the December 31 adjusting entry.

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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