carter1809
28.06.2021 •
Business
On January 1, Great Designs Company had a debit balance of $2,183 in the office supplies account. During the month, Great Designs purchased $515 and $500 of office supplies and journalized them to the asset account upon purchasing. On January 31, an inspection of the office supplies cabinet shows that only $774 of office supplies remains. Journalize the January 31 adjusting entry for office supplies. If an amount box does not require an entry, leave it blank. Jan 31
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Ответ:
Dr Office supplies expense $2,424
Cr Office supplies $2,424
Explanation:
Based on the information given in the question, the January 31 adjusting entry for office supplies goes thus:
Journal entry on Jan 31st-
Dr Office supplies expense $2,424
Cr Office supplies $2,424
Working:
Total office supplies available = $2183 + $515 + $500 = $3198
Total supplies available on January, 31st = $774
Therefore, supplies consumed will be:
= $3198 - $774
= $2424
Ответ:
false
Explanation: