Office supplies had a balance of 192 on january 1 during

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Reference no: EM13586912

Office supplies had a balance of $192 on January 1. During the year, $785 of office supplies were purchased on account. At the end of the year, $43 of supplies remained on hand.

a. prepare the journal entry required to record the purchase of supplies.

b. assuming annual adjstments, prepare the necessary adjusting journal entry on Dec. 31.

c indicate the amount that would appear on the balance sheet for supplies on Dec. 31.

Reference no: EM13586912

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