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Windsor Advertising Company's trial balance at December 31 shows Advertising Supplies $6,700 and Advertising Supplies Expense $0. On December 31, there are $2,700 of supplies on hand.
Prepare the adjusting entry at December 31.
Date Account/Description Debit CreditDec. 31
Using T accounts, enter the balances in the accounts listed below, post the adjusting entry as necessary, and indicate the adjusted balance in each account. (If there is no transaction, enter 0 for the amount.)
Advertising Supplies12/31 12/31
12/31 Bal. 12/31 Bal.Advertising Supplies Expense12/31 12/31
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