Question: Brief Exercise 3-6 (Algo) Record the adjusting entry for supplies (LO3-3) At the beginning of the year, Golden Gopher Company reports a balance in Supplies
Brief Exercise 3-6 (Algo) Record the adjusting entry for supplies (LO3-3) At the beginning of the year, Golden Gopher Company reports a balance in Supplies of $300. During the year, Golden Gopher purchases an additional $1,300 of supplies for cash. By the end of the year, only $100 of supplles remains. Required: 1.\&2. Record the necessary entries in the Journal Entry Worksheet below. 3. Calculate the year-end adjusted balances of Supplies and Supplies Expense. Complete this question by entering your answers in the tabs below. Record the necessary entries in the Journal Entry Workshect below. (If no entry is required for a particular transaction/event, select " N Journal Entry Required' in the first account fieid.) Journal entry worksheet 2 Record the purchase of supplies for $1,300 cash. Note: Enter debits before credits
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