On January 1, the company had office supplies costing $4,600. On March 23, the company bought additional
Question:
On January 1, the company had office supplies costing $4,600. On March 23, the company bought additional office supplies costing $8,200. The company paid cash. On December 31, a physical count of office supplies revealed that supplies costing $2,900 remained.
1. Make the journal entry necessary on the company’s books on March 23 to record the purchase of office supplies.
2. Make the adjusting entry necessary on December 31 with respect to office supplies.
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1 Mar 23 Office Supplies 8200 Cash 8200 2 Dec 31 Office Supplies Expense 9900 ...View the full answer
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Related Book For
Accounting concepts and applications
ISBN: 978-0538745482
11th Edition
Authors: Albrecht Stice, Stice Swain
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