On January 7, Bravo purchased supplies on account for $1,000,
On January 7, Bravo purchased supplies on account for $1,000, and
recorded this purchase to the Supplies account. At the end of January, Bravo had $600 of these supplies still on hand. The proper adjusting journal entry at January 31 would:
Question 8 options:
include a debit to Supplies for $1,000
include a debit to Supplies Expense for $600
include a debit to Accounts Payable for $400
include a credit to Supplies for $400