Boyce Company purchased office supplies costing $7,000 and debited supplies for the full amount. At the end of the accounting period, a physical count of office supplies revealed $1, 800 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be: A) debit supplies Expense, $1, 800 credit supplies, $1, 800. B) debit supplies Expense, $5, 200 credit supplies. $5, 200. C) debit supplies, $5, 200; credit Supplies Expense, $5, 200. D) debit supplies, $1, 800: credit supplies Expense, $1, 800
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Home » Business » Boyce Company purchased office supplies costing $7,000 and debited supplies for the full amount. At the end of the accounting period, a physical count of office supplies revealed $1, 800 still on hand.