The beginning balance of Supplies for Lu Inc. was $900. During the year, additional supplies were purchased for $450. At the end of the year a count indicates $700 of supplies on hand. The adjusting entry at December 31 is:.
a. debit supplies $650; credit supplies expense $650
b. debit supplies $450; credit supplies expense 450
c. debit supplies expense $650; credit supplies $650
d. debit supplies expense $250; credit supplies $250
Answers: 1
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The beginning balance of Supplies for Lu Inc. was $900. During the year, additional supplies were pu...
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