In general journal form, record adjusting entries for the following items for Cornish Accounting Co. at December 31, 202

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answerhappygod
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In general journal form, record adjusting entries for the following items for Cornish Accounting Co. at December 31, 202

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In general journal form, record
adjusting entries for the following items for
Cornish Accounting Co. at December 31, 2020. Assume that
the first ordinary entry was already done.
a) On January 3, 2020, $5,500 of supplies were purchased and
recorded as an asset. A count revealed $500 still on hand at
December 31, 2020. Do the adjusting entry and not the first entry
to record the purchase.
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