jalysarpsullivan jalysarpsullivan
  • 21-07-2022
  • Business
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Bearcat uses $1,200 of supplies in 2021. Record the adjusting entry for supplies at its year-end of December 31.

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Tundexi
Tundexi Tundexi
  • 21-07-2022

The adjusting entry is to debit "supplies expense" for $1,200 and a to credit "supplies" for $1,200.

What is an adjusting entry?

This refers to the journal entry that occurs at the end of a reporting period to record any unrecognized income or expenses for the period.

Hence, in this case, the adjusting entry is to debit "supplies expense" for $1,200 and a to credit "supplies" for $1,200.

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