The following adjusting journal entry does not include an explanation. Select the best explanation for the entry.
A) Adjust supplies inventory to actual
B) Record purchase of supplies
C) Reduce supplies expense
D) Record sale of supplies
Correct Answer:
Verified
Q63: The general term used to indicate delaying
Q101: The balance in the supplies account before
Q104: The net income reported on the income
Q114: What effect will this adjustment have on
Q115: The account type and normal balance of
Q118: Which of the following pairs of accounts
Q120: What effect will the following adjusting journal
Q121: Which of the accounting steps in the
Q122: A one-year insurance policy was purchased on
Q124: Explain the difference between accrual basis accounting
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents