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end to Gradebook Prev Next > Question 1 /0.5 Lahey Advertising Company's trial balance at December 31 shows Supplies $8,800 and Supplies Expense $0. On December 31, there are$1,100 of supplies on hand Prepare the adjusting entry at December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry"for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Dec. 31 eTextbook and Media List of Accounts Using T-accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted balance in each account. (Post entries in the order of journal entries presented in the previous part) Supplies Expense eTextbook and Media List of Accounts Attempts: 0 of 6 used Check Answer Send to Gradcbook Prev Next

Explanation / Answer

Adjusting entry :

T account

Date account and explanation debit credit Dec 31 Supplies expense (8800-1100) 7700    Supplies 7700 (To record supplies adjusted)

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