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17 June, 22:21

The balance in the supplies account, before adjustment at the end of the year, is $2,397. Journalize the adjusting entry required if the amount of supplies on hand at the end of the year is $1,127.

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  1. 17 June, 22:36
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    The Journal entry is as follows:

    Supplies expense A/c Dr. $1,270

    To Supplies $1,270

    Working notes:

    Supplies expense

    = Balance before adjustment - Ending balance

    = $2,397 - $1,127

    = $1,270

    $1,270 worth of supplies has been used during the year, so it is considered as supplies expense.

    And balance in supplies account before adjustment will reduce by $1,270 leaving ending balance of $1,127.
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