Answer Happy

Shown below is the unadjusted trial balance of IE Manufacturing Corporation with balances for the year ended December 31, 2021: IE Manufacturing Corporation Unadjusted Trial Balance December 31, 2021 Account Titles Cash Accounts Receivable Marketable Securities Prepaid Rent Supplies Machinery Accumulated Depreciation- Machinery Accounts Payable Debit Php123,050 50.600 22,200 20,000 25.300 800,000 Credit Php280,000 7,500 6.000
Accounts Payable Deferred Income Capital Stock Retained Earnings Sales Cost of Goods Sold Salaries and Wages Expense Utilities Expense Total 95,000 O None of the above 60,500 23,200 Php1,219,850 7,500 6,000 692,950 34,000 199,400 Php1,219,850 REQUIREMENT: Prepare adjusting entries for the following transactions: A physical count was conducted and revealed that supplies on hand at December 31 was Php18,500. O Debit Prepaid supplies 8,600/Credit Supplies expense 8,600 O Debit Supplies 18,500/Credit Supplies expense 18,500 O Debit Supplies expense 6,800/Credit Supplies 6,800 O Debit Supplies expense18,500/Credit Supplies payable 18,500