What Effect Will This Adjusting Journal Entry Have on the Accounting

question 3

Multiple Choice

What effect will this adjusting journal entry have on the accounting records? $$\begin{array} { | c | r | r | } \hline \text { Supplies Expense } & 760 & \\\hline \text { Supplies } & & 760 \\\hline\end{array}$$

• A) increase income
• B) decrease net income
• C) decrease expenses
• D) increase assets

---

Definitions:

Local Banker

A banker who operates within a specific regional area, often familiar with the local market and community-based financing needs.

Local College

A post-secondary institution usually offering a range of degrees and certificates primarily serving students in its surrounding geographical area.

Established Customer Base

A group of loyal customers a business has successfully developed over time, which forms the core of its regular buyers or clients.

Previous Management

Refers to the former team or individual(s) responsible for overseeing and directing the operations and strategic decisions of an organization.