On October 1, 2019, Visa had $712 million in Supplies, and they purchased $123 million more in Supplies during fiscal 2020. A year-end physical count of Visa's supplies indicates that they have $757 million worth of Supplies remaining as of September 30, 2020. If Visa did not make journal entries when they used supplies during fiscal 2020, what adjusting journal entry should Visa make related to its Supplies on September 30, 2020?

Answer rating: 100% (QA)

To make the adjusting journal entry related to Supplies on September 30 2020 we need to account for ... View the full answer