What Is the Correct Adjusting Entry at June 30,the End

question 19

Short Answer

What is the correct adjusting entry at June 30,the end of the financial year,based on a supplies account balance,before adjustment,of $5200,and supplies inventory,on June 30,of $1200?
$\begin{array}{llll}A.\text { DR Supplies } & \$ 1200 & \text { CR Supplies expense } & \$ 1200 \\B.\text { DR Supplies expense } & \$ 1200 & \text { CR Supplies } & \$ 1200 \\C.\text { DR Supplies expense } & \$ 4000 & \text { CR Supplies } & \$ 4000 \\D.\text { DR Supplies } & \$ 4000 & \text { CR Supplies expense } & \$ 4000\end{array}$

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