Multiple Choice Question 146 The trial balance for Sunland Company appears as fo

Question

Multiple Choice Question 146 The trial balance for Sunland Company appears as follows Sunland Company Trial Balance December 31, 2017 $350 606 95 209 4640 Cash Accounts Receivable Prepaid Insurance Supplies Equipment Accumulated Depreciation, Equipment Accounts Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Rent Expense $700 445 1390 1620 3485 1160 580 $7640 $7640 If, on December 31, 2017, supplies on hand were $46, the adjusting entry would contain a credit to Supplies Expense for $163. debit to Supplies for $46 credit to Supplies for $46 debit to Supplies Expense for $163.

Explanation / Answer

Adjusting entry will be:

so answer is Debit to supplies expense for $163

Debit to Supplies expense ($209 - $46) $ 163 Credit to Supplies $ 163

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