Acompany is in its first month of operations. supplies worth $4,000 were purchased on january 5. at the end of the month supplies worth $3,000 were in hand. what adjusting entry would be made at the end of january? post the adjusting entry for the scenario provided. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)

Explanation:

The adjusting entry is shown below:

Supplies expense A/c Dr $1,000

       To Supplies A/c                       $1,000

(Being supplies are adjusted)

Since in the question, it is given that the supplies were purchased at $4,000 and in hand it was $3,000 so, the remaining balance i.e $1,000 ($4,000 - $3,000) would be adjusted to the supplies expense account.

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