During the Company's First Year of Operations,supplies Costing $5,800 Were

question 183

Multiple Choice

During the company's first year of operations,supplies costing $5,800 were purchased and recorded in the Supplies account.At the end of the period,supplies costing $3,000 were left.What adjusting entry must be made to recorded?

• A) Debit Cash and credit Supplies for $3,000
• B) Debit Supplies Expense and credit Supplies for $5,800
• C) Debit Supplies and credit Supplies Expense for $2,800
• D) Debit Supplies Expense and credit Supplies for $2,800

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Definitions:

Information Flows

The movement of information within an organization from creation to usage, crucial for decision-making and coordination.

People Person

An individual who is particularly skilled at interacting positively with others, often characterized by strong interpersonal skills and emotional intelligence.

Honesty And Integrity

Moral principles guiding a person to act truthfully and consistently with strong ethical values.

Coercive Power

The capacity to force someone to perform a task or behave in a certain way through threats, punishment, or negative consequences.