At December 31, the unadjusted trial balance of H&R; Tacks reports Supplies of $

Question

At December 31, the unadjusted trial balance of H&R; Tacks reports Supplies of $8,900 and Supplies Expense of $0. On December 31, supplies costing $7,650 are on hand 1. Prepare the adjusting journal entry on December 31. (f no entry is required for a transactionlevent, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the adjusting entry on December 31. Note: Enter debits before credits. General Journal Debit Credit December 31 Record entry Clear entry View general journal Type here to search o e F2 F3 F4 F5 F6 F7 F8 F9 F10 F

Explanation / Answer

31-Dec Supplies expense 1250 =8900-7650        Supplies 1250        Supplies        Supplies expense Beg. Bal. 8900 1250 Dec-31 adj Beg. Bal. 0 Dec-31 adj 1250 End. Bal. 7650 End. Bal. 1250

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