Ask Question
18 March, 00:31

At March 1,2020, Candy inc. Had supplies on hand of $500. During the month Candy purchased supplies of $1200 and used supplies of $500. The March 31 adjusting journal entry shoud include what?

+4
Answers (1)
  1. 18 March, 00:46
    0
    Answer: The March 31 adjusting journal entry shoud include $1200

    Explanation: Given that the

    Supplies on hand = $500

    Candy purchased supplies of $1200 and used supplies of $500

    The unused supplies will be:

    1200 - 500 = 700 dollars

    The March 31 adjusting journal entry shoud include the addition of the supplies on hand and the unused supplies. That is,

    500 + 700 = 1200 dollars
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “At March 1,2020, Candy inc. Had supplies on hand of $500. During the month Candy purchased supplies of $1200 and used supplies of $500. The ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers