The balance in the supplies account, before adjustment at the end of the year, is $5,330. Journalize the adjusting entry required if the amount of supplies on hand at the end of the year is $1,875....

The balance in the supplies account, before adjustment at the end of the year, is $5,330. Journalize the adjusting entry required if the amount of supplies on hand at the end of the year is $1,875.

The supplies and supplies expense accounts at December 31, after adjusting entries have been posted at the end of the first year of operations, are shown in the following T accounts: