At the End of the Month,the Adjusting Journal Entry to Record

question 12

Multiple Choice

At the end of the month,the adjusting journal entry to record the use of supplies would include a debit to:

• A)Supplies and a credit to Supplies Expense.
• B)Supplies Expense and a credit to Supplies.
• C)Supplies and a credit to Service Revenue.
• D)Supplies and a credit to Cash.

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Definitions:

Journal Entry

A record of a financial transaction in the general journal or other ledger, representing debits and credits to accounts.

Fringe Benefits

Benefits provided to employees in addition to wages and salaries.

Revenues And Expenses

The income a business earns from its operations and the costs incurred to generate that income.

Payroll Taxes

Taxes that are withheld from employees' wages by their employer and paid to the government, often including social security and medicare taxes.