A company started the year with $300 of supplies. During the year, the company purchased an additional $1200 of supplies. There were $500 of supplies on hand at the end of the year
An adjusting entry prepared at the end of the accounting period includes a:
A) debit to Supplies for $900.
B) debit to Supplies for $500.
C) debit to Supplies Expense for $1000.
D) debit to Supplies Expense for $200.
C
Explanation: C) $300 + $1200 - $500 = $1000
Business
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