ACCOUNTING Chapter 4 Assignment o Question 1 (of 7 value 10.00 points At December 31 the unadjusted trial balance of H&R Tacks reports Supplies of $9.500 and Supplies xpense of $0. On December 31, supplies costing $7,950 are on hand. 1. Prepare the adjusting journal enty on December 31. (f no entry is required for a transaction/event select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the adjusting entry on December 31. Note: Enter debits before credits. Date General Journal Debit Credit December 31 Supplies 7.950 Supplies Expense 1,550 0 Type here to search Address