Business, 24.02.2020 19:31, alyssakerr17

Monty Corp.’s trial balance at December 31 shows Supplies $5,700 and Supplies Expense $0. On December 31, there are $2,600 of supplies on hand. Prepare the adjusting entry at December 31, and using T-accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted balance in each account. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

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Monty Corp.’s trial balance at December 31 shows Supplies $5,700 and Supplies Expense $0. On Decembe...