Willamette Corporation purchased office supplies costing $7,500 and debited Supplies for the full amount. At the end of the accounting period, a physical count of supplies revealed $2,300 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be: a. Debit Supplies Expense, $2,300; Credit Supplies, $2,300. b. Debit Supplies, $5,200; Credit Supplies Expense, $5,200. c. Debit Supplies Expense, $5,200; Credit Supplies, $5,200. d. Debit Supplies, $2,300; Credit Supplies Expense, $2,300.

Willamette Corporation purchased office supplies costing $7,500 and debited Supplies for the full amount. At the end of the accounting period, a physical count of supplies revealed $2,300 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be: a. Debit Supplies Expense, $2,300; Credit Supplies, $2,300. b. Debit Supplies, $5,200; Credit Supplies Expense, $5,200. c. Debit Supplies Expense, $5,200; Credit Supplies, $5,200. d. Debit Supplies, $2,300; Credit Supplies Expense, $2,300.

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter12: Financial Statements, Closing Entries, And Reversing Entries

Section: Chapter Questions

Problem 4PA: The following accounts appear in the ledger of Celso and Company as of June 30, the end of this...

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