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samueltaye
samueltaye
15.11.2020 • 
Mathematics

Pharoah Company purchased office supplies costing $8680 and debited Supplies for the full amount. At the end of the accounting period, a physical count of office supplies revealed $3100 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be: debit Supplies, $5580; credit Supplies Expense, $5580.

debit Supplies Expense, $5580; credit Supplies, $5580.

debit Supplies Expense, $3100; credit Supplies, $3100.

debit Supplies, $3100; credit Supplies Expense, $3100.

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