Adjusting journal entry-supplies expense account

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Indus Company has a Supplies account balance of $900 on January 1, 2009. During 2009, it purchased $4,000 of supplies. As of December 31, 2009, a supplies inventory shows $750 of supplies available. Prepare the adjusting journal entry to correctly report the balance of the Supplies account and the Supplies Expense account as of December 31, 2009.

Reference no: EM13159409

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Adjusting journal entry-supplies expense account : Indus Company has a Supplies account balance of $900 on January 1, 2009. During 2009, it purchased $4,000 of supplies. As of December 31, 2009, a supplies inventory shows $750 of supplies available. Prepare the adjusting journal entry to correctly..

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