Question

Used office supplies of $4,940. The Office Supplies unadjusted balance on December 31 is $9,200. Adjustment Type: Supplies Expense Office Supplies A T is drawn. The vertical line divides the account into its left and right sides. The left side of the T-account is called the debit side and the right side is called the credit side. The account name is at the top, above the horizontal line.

Answer 1

Deferrals / Prepaid

Supplies Expense

Date Debit Credit Date

31-Dec $4,940

Balance $4,940

Office Supplies

Date Debit Credit Date

31-Dec $9,200 $4,940 31-Dec

Balance $4,260