Martinez Consulting Company's general ledger showed $855 in the Supplies account on January 1, 2024. On...

 

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Martinez Consulting Company's general ledger showed $855 in the Supplies account on January 1, 2024. On May 31, 2024, the company paid $3,210 for additional supplies. A count on December 31, 2024, showed $1,005 of supplies on hand. (a) Prepare the journal entry to record the purchase of supplies on May 31, 2024. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry.) Date Account Titles and Explanation May 31 Supplies Cash Debit 3210 Credit 3210 Martinez Consulting Company's general ledger showed $855 in the Supplies account on January 1, 2024. On May 31, 2024, the company paid $3,210 for additional supplies. A count on December 31, 2024, showed $1,005 of supplies on hand. (a) Prepare the journal entry to record the purchase of supplies on May 31, 2024. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry.) Date Account Titles and Explanation May 31 Supplies Cash Debit 3210 Credit 3210

Answer rating: 100% (QA)

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