A physical count of supplies on hand at the end of May for Masters, Inc. indicated $1,258 of supplies on hand. The general ledger balance before any adjustments is $2,180. What is the adjustment entry for office supplies that must be recorded on May 31? Supplies expense debit $1,258 and supplies credit $2,180. Prepaid supplies debit $922 and supplies expense credit $922. Supplies expense debit $922 and supplies credit $922. Debit Supplies $1258 and credit Cash $1258. Supplies expense debit $1,258 and supplies credit $1,258.

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The adjustment entry for office supplies that must be recorded on May 31 is Supplies expense debit 922 and supplies credit 922 Explanation The general ... View the full answer