Record and journalize the adjusting entries for EACH of the following 2 situations. a. The Supplies...

 

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Record and journalize the adjusting entries for EACH of the following 2 situations. a. The Supplies account balance on the trial balance was $4575; the value of the supplies counted after an inventory was done was only $1220. Record the adjusting entry for supplies as of December 31st (5 marks) DATE GENED DATE GENERAL JOURNAL PARTICULARS P.R. DEBIT PAGE CREDIT Record and journalize the adjusting entries for EACH of the following 2 situations. a. The Supplies account balance on the trial balance was $4575; the value of the supplies counted after an inventory was done was only $1220. Record the adjusting entry for supplies as of December 31st (5 marks) DATE GENED Record and journalize the adjusting entries for EACH of the following 2 situations. a. The Supplies account balance on the trial balance was $4575; the value of the supplies counted after an inventory was done was only $1220. Record the adjusting entry for supplies as of December 31st (5 marks) DATE GENED DATE GENERAL JOURNAL PARTICULARS P.R. DEBIT PAGE CREDIT DATE GENERAL JOURNAL PARTICULARS P.R. DEBIT PAGE CREDIT

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The adjusting entry for supplies is necessary because the balance in the Supplies account on th... View the full answer