Carla vista co.’s trial balance at december 31 shows supplies $8,780 and supplies expense $0. on december 31, there are $2,120 of supplies on hand. prepare the adjusting entry at december 31.

Explanation:

The adjusting entry is shown below:

On December 31

Supplies expense A/c Dr $6,660

        To Supplies A/c $6,660

(Being supplies account is adjusted)  

The supplies expense is computed by  

= Supplies balance - supplies on hand  

= $8,780 - $2,120

= $6,660

We simply debited the supplies expense account and credited the supplies account for $6,660

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answerpounds of plastic to purchase 200+60-20=(240);