Question 25 o Question 25 20 points Save Answ The lisban Com

Question 25 o Question 25 20 points Save Answ The lisban Compaey porchaned $38,000 worth of supplies on June 2 and recorded the purchase as an asset On Joume 30, an iventory of the supplies indicatled only $6,000 om bdTeing ety tan be made by the compesy on Jube 30 is a debit Supplies, $6,000, credit Supplies Expense, $6,000 eb. debit Supphes, $33,000; credit Supplies Expense, $33,000. $33.000 ? Click Submit to complete this assessment Question 25 of Monda June 1 00:09:23 00:02:41

Solution

Answer

Option d. Debit supplies expense $33,000, Credit supplies $33,000

Explanation :

At purchase, Debit to supplies (Asset )

At end of June supplies are $6000, and balance were consumed i.e, $33,000

So, supplies Asset transfer to supplies expense