Estion 9 Question 9 Of 26 3 Points Save Answer The Supplies Account Had A Balance At The Beginning Of Year 3 Of 8 000 1 (15.82 KiB) Viewed 62 times
Estion 9 Question 9 Of 26 3 Points Save Answer The Supplies Account Had A Balance At The Beginning Of Year 3 Of 8 000 2 (15.82 KiB) Viewed 62 times
estion 9 Question 9 of 26 3 points Save Answer The Supplies account had a balance at the beginning of year 3 of $8,000 (before the reversing entry). Payments for purchases of supplies during year 3 amounted to $50,000 and were recorded as expense. A physical count at the end of year 3 revealed supplies costing $11,500 were on hand. Reversing entries are used by this company. The required adjusting entry at the end of year 3 will include a debit to: 1. Supplies Expense for $3,500. 2. Supplies for $11,500. 3. Supplies for $3,500. 4. Supplies Expense for $46,500.
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!