An organization's account for office supplies on hand had a balance of $9,000 at the end of year one.
During year two. The organization recorded an expense of $45,000 for purchasing office supplies. At the end of year two. a physical count determined that the organization has $11 ,500 in office supplies on hand. Based on this Information, what would he recorded in the adjusting entry an the end of year two?

Question

An organization's account for office supplies on hand had a balance of $9,000 at the end of year one.

During year two. The organization recorded an expense of $45,000 for purchasing office supplies. At the end of year two. a physical count determined that the organization has $11 ,500 in office supplies on hand. Based on this Information, what would he recorded in the adjusting entry an the end of year two?

Oluseyi Tijani · Accepted Answer

A debit to office supplies on hand for $11.500

Oluseyi Tijani · Answer

A debit to office supplies on hand for S2.500

Oluseyi Tijani · Answer

A debit to office supplies on hand for $20,500

Oluseyi Tijani · Answer

A debit to office supplies on hand for $42,500

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