Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. bailey company purchased supplies on accounts reco

Bailey Company purchased supplies on accounts recording the supplies as supplies expense in the amount...

50.1K

Verified Solution

Question

Accounting

Bailey Company purchased supplies on accounts recording the supplies as supplies expense in the amount of $2,000. At the end of the period the inventory of supplies was $250. The adjusting entry to be recorded would be:

Multiple Choice

A. Debit Supplies Expense and Credit Supplies for $1,750.

B. Debit Supplies Expense and Credit Supplies for $250.

C. Debit Supplies and credit Supplies expense for $250

D. Debit Supplies and credit Supplies expense for $1,750.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

Find the charge on the capacitor in an LRC-series circuit at t = 0.05 s when...

Biology
1.2K views

Table 4 2 Monthly Average Radiation Data for Deadhorse Alaska 70 N Data in W...

Biology
1.2K views

The individual with genotype AaBbCCDdEE can make many kinds of gametes Which of the following...

Physics
1.2K views

Three charges are positioned on an X Y coordinate system A 40 0 nC charge...

Physics
1.2K views

Two coherent waves P and Q meet at a point in phase and superpose Wave...

Geometry
1.2K views

In the diagram below ZT ZW ZU ZX Enter segments in the blanks provided that...

Basic Math
1.2K views

1 A restaurant worker pours 3 402 fluid ounces of orange juice into pitchers that...

Accounting
1.2K views

CHECK FIGURE: Cash inflow from operating activities =$22,800 Burrow...

Accounting
1.2K views

On October 15, 2017, the board of directors of Ensor Materials Corporation approved a stock...

Accounting
1.2K views

Brock Hahn is the owner and operator of Dream-It LLC, a motivational consulting business. At...

Accounting
1.2K views

On October 1, 2023, Dejour Energy Inc. issued a $695,000,9.0%, seven-year bond. Interest is to...

Finance
1.2K views

You want a seat on the board of directors of Four Keys, Inc. The company...