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Daud2020
Daud2020
13.03.2020 • 
Business

During its first three months of operations, Cari's Bakery, Inc. purchased supplies such as plates, napkins, bags, and cutlery for $9,000 and recorded this as supplies inventory. Supplies on hand at the end of the first quarter, amount to $5, 600. To prepare financial statement for the first quarter, the company must record which of the following accounting adjustments?A) Increase Supplies expense by $5, 600 and decrease Supplies inventory by $5, 600B) Increase Supplies expense by $3, 400 and decrease Supplies inventory by $3, 400C) Increase Supplies inventory by $5, 600 and decrease Supplies expense by $5, 600D) Increase Supplies inventory by $3, 400 and decrease Supplies expense by $3, 400E) None of the above

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