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Greese Company purchased office supplies costing $4,000 and debited Office Supplies for the full amount. At the end of the accounting period, a physical count of office supplies revealed $1,100 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be
Weegy: Office supplies expense (or Misc. expense) 2,400 Office supplies 2,400 (More)
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Updated 9/18/2013 7:51:34 PM
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Greese Company purchased office supplies costing $4,000 and debited Office Supplies for the full amount. At the end of the accounting period, a physical count of office supplies revealed $1,100 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be debit Office Supplies Expense, $2,900; credit Office Supplies, $2,900.
Added 9/18/2013 7:51:34 PM
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