Respuesta :
Answer:
Debit Supplies expense account $650
Credit supplies account $650
Explanation:
When supplies are purchased but yet to be used, the entries required are
Debit supplies account
Credit cash/accounts payable
When supplies are used up, the entries required are
Debit Supplies expense account
Credit supplies account
As such where On December 31, Treats Catering Inc.'s trial balance shows a $1,000 balance in the Supplies account. However, a physical count of the supplies determined that only $350 of supplies actually remain in the supply cabinet, the supplies used up
= $1,000 - $350
= $650
adjusting entries required
Debit Supplies expense account $650
Credit supplies account $650
Being entries to recognized supplies used up.
