During its first three months of operations, a company purchased supplies such as plates, napkins, bags, and cutlery for $9,000 and recorded this as supplies inventory. Supplies on hand at the end of the first quarter, amount to $5,600. What are the accounting adjustments I need to record for quarter financial end?

During its first three months of operations, a company purchased supplies such as plates, napkins, bags, and cutlery for $9,000 and recorded this as supplies inventory. Supplies on hand at the end of the first quarter, amount to $5,600. What are the accounting adjustments I need to record for quarter financial end?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 12PB: Prepare journal entries to record the following transactions that occurred in March: A. on first day...

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