1 Formula: Add, Subtract; Cell Referencing 2 3 Using Excel to Record Transactions 4 PROBLEM 5 Burns Consulting Company's maintains a general ledger for 6 Supplies. A count on May 31, 2024, determined the supplies on 7 hand. The following cost information is available for the 8 company's Supplies account. 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 January 1, Supplies on hand May 31, Purchase on account December 31, Supplies on hand Enter Answer $ 785 3,255 1,035 53 Student Work Area Required: Provide input into cells shaded in yellow in this template. Use mathematical formulas with cell references to the Problem and work areas as indicated. a. Prepare the journal entry to record the purchase of supplies on May 31, Date May 31 M b. Calculate the amount of supplies used during 2021. Date c. Prepare the adjusting entry required at December 31, 2021. Dec. 31 Debit Debit Credit Credit

a. Prepare the joutnal entry so record the purchase of supplies on May 31 , b. Calculate the amount of supplies used durine 2021 . c. Prepare the adjusting entry required at December 31, 2021