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27 July, 23:10

Moore General Store purchased office supplies on account during the month of February for $4,500. Payment for the supplies will be made in March. On February 1, the balance in the supplies account was $200. On February 28, supplies on hand amounted to $180. What was the amount of supplies USED during February?

Select one:

a. $ 4880

b. $ 4520

c. $ 4320

d. $ 180

+2
Answers (1)
  1. 27 July, 23:19
    0
    The correct answer is option (B).

    Explanation:

    According to the scenario, the given data are as follows:

    Purchased office supplies = $4,500

    Supplies on balance account (in beginning) = $200

    Supplies remaining (in end of month) = $180

    So, To calculate supplies used in February we use following method:

    Supplies Used = Supplies in Beginning + Purchased office supplies - Supplies in Ending

    = $200 + $4,500 - $180

    Supplies Used = $4,520

    Hence, the amount of supplies USED during February was $4,520.
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Home » Business » Moore General Store purchased office supplies on account during the month of February for $4,500. Payment for the supplies will be made in March. On February 1, the balance in the supplies account was $200.
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