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What was the balance in Supplies on January

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Question - The income statement of Mercury Corporation for 2017 included the following items:

Service revenue $3,000

Supplies expense 900

The following balances have been excerpted from Mercury Corporation's balance sheets:

December 31, 2017

Accounts receivable $9,100

Supplies 1,100

If Mercury Corporation purchased $780 of supplies during the year, what was the balance in Supplies on January 1, 2017?

a. $1,100

b. $1,220

c. $980

d. Cannot be determined.

Reference no: EM132229140

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