The trial balance for Greenway Corporation appears as follows: If, on December 31, 2022, supplies on hand were $40, the adjusting entry would contain a:
A)debit to Supplies for $40.
B)credit to Supplies for $40.
C)debit to Supplies Expense for $140.
D)credit to Supplies Expense for $140.

Question

The trial balance for Greenway Corporation appears as follows:  If, on December 31, 2022, supplies on hand were $40, the adjusting entry would contain a:
A)debit to Supplies for $40. 
B)credit to Supplies for $40. 
C)debit to Supplies Expense for $140. 
D)credit to Supplies Expense for $140.

Quizplus · Accepted Answer

The Answer of The trial balance for Greenway Corporation appears as follows:  If, on December 31, 2022, supplies on hand were $40, the adjusting entry would contain a:
A)debit to Supplies for $40. 
B)credit to Supplies for $40. 
C)debit to Supplies Expense for $140. 
D)credit to Supplies Expense for $140.

The Trial Balance for Greenway Corporation Appears as Follows