question 11\na1 service company purchased office supplies costing $7,000 and debited supplies for the full…

question 11\na1 service 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: select answer from the options below.\na debit supplies expense, $5,200; credit supplies, $5,200.\nb debit supplies expense, $1,800; credit supplies, $1,800.\nc debit supplies, $5,200; credit supplies expense, $5,200.\nd debit supplies, $1,800; credit supplies expense, $1,800.

question 11\na1 service 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: select answer from the options below.\na debit supplies expense, $5,200; credit supplies, $5,200.\nb debit supplies expense, $1,800; credit supplies, $1,800.\nc debit supplies, $5,200; credit supplies expense, $5,200.\nd debit supplies, $1,800; credit supplies expense, $1,800.

Answer

Explanation:

Step1: Calculate supplies used

The supplies purchased were $7,000 and the supplies on - hand at the end of the period are $1,800. The supplies used = Supplies purchased - Supplies on - hand. So, $7000 - 1800=5200$.

Step2: Determine adjusting entry

When supplies are used, we need to record an expense. We debit Supplies Expense (to increase the expense account) and credit Supplies (to decrease the asset account) for the amount of supplies used, which is $5,200.

Answer:

A. debit Supplies Expense, $5,200; credit Supplies, $5,200