The Beginning Balance in the Supplies Account Was $3 000

question 10

Multiple Choice

The beginning balance in the Supplies account was $3 000. Purchases of supplies during the year were $25 000. The business makes adjusting entries for supplies once a year. A count of supplies at year- end revealed that the ending balance in the Supplies account should be $1 500. What is the amount of the adjusting entry?

• A)$25 000
• B)$26 500
• C)$3 000
• D)$1 500

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Definitions:

Logistic Channels

Pathways or networks used for the distribution of goods from manufacturers to consumers.

Logistics Chains

The sequence of processes involved in the production and distribution of a commodity, also known as supply chains.

Core Carriers

Transportation providers chosen by a shipper to carry the majority of its products or goods, based on reliability, efficiency, or cost advantages.

Distribution Channels

Networks or pathways through which a company's products or services are sold and delivered to the end customer, including retailers, wholesales, and online platforms.