On April 1, Balsa Company Purchased Office Supplies for $1,500

question 53

Essay

On April 1, Balsa Company purchased office supplies for $1,500. At the end of April, they took a count of the remaining supplies and found that there was $500 of supplies left. Please provide the adjusting entry needed at the end of April. Assume the office supplies were initially recorded as an asset. Assume there were no office supplies on hand prior to the purchase on April 1.

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Definitions:

Snap

Snap is a feature in many operating systems and applications that allows windows or elements to align perfectly with the edges of the screen or other windows, aiding in a clean and organized layout.

Maximize

To enlarge a window to its fullest size on the screen, usually covering the entire desktop view, allowing users to see more of the application or document.

Active Window

The window in a graphical user interface (GUI) that is currently responsive to user input, indicated by a highlighted title bar or other visual cues.

External Hard Drive

A portable storage device that can be attached to a computer through a USB or other interface for data storage and backup.