D E F G H I J K L M N o P Q R S F 1 Formula: Subtract; Cell Referencing 2 3 Using Excel to Record Adjusting Entries 4 PROBLEM 5 Lahey Advertising Company's maintains a general ledger 6 account for Supplies. A count on December 31 determined the 7 company has supplies on hand. The following information is 7 8 from the company's trial balance. 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. 9 Prepare the adjusting entry at December 31, and using T-accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted balance in each account. 10 $ 8,800 11 12 January 1, Supplies on hand Supplies expense December 31, Supplies on hand 1,100 13 Adjusting entry Date Dec 31 Debit 14 15 Credit 16 17 18 19 T-accounts Supplies 20 21 22 23 24 25 26 Supplies Expense 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 Enter Answer + Ready