A Company Started the Year with $3,750 of Supplies on Hand.During

question 137

Multiple Choice

A company started the year with $3,750 of supplies on hand.During the year the company purchased additional supplies of $2,000 and recorded them as an increase to the supplies asset.At the end of the year the company determined that only $750 of supplies are still on hand.What is the adjusting journal entry to be made at the end of the period?

• A)Debit Supplies Expense and credit Supplies for $5,000
• B)Debit Supplies and credit Supplies Expense for $750
• C)Debit Supplies Expense and credit Supplies for $3,000
• D)Debit Supplies and credit Supplies Expense for $2,500

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Definitions:

Enantiomers

Mirror-image forms of a chiral molecule that cannot be superimposed on each other, often showing different behaviors in chiral environments.

Compounds Shown

Indicates specific chemical compounds depicted in a given context, such as in a diagram or formula.

Enantiomer

One of a pair of molecules that are mirror images of each other but cannot be superimposed, much like left and right hands.

Asymmetric Carbons

A carbon atom bonded to four different atoms or groups of atoms, making it a stereocenter or chiral center.