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Vaughn Manufacturing purchased office supplies costing $7140 and debited Supplies for the full amount. At the end of the accounting period, a physical count of office supplies revealed $2550 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be:

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tutorAnne

Answer:Debit supplies expense $4,590; Credit supplies 4,590

Explanation:

office supplies cost  and debited = $7140

Amount still on hand = $2550

Supplies expense = $7140 -$2550=$4, 590

An adjusting journal entry is an entry in financial reporting that records income expenses not noticed so as to adjust the amount before financial statement are made at the end of a reporting period.

The appropriate adjusting journal entry to be made at the end of the period would be.

Account  and explanation                 Debit            Credit

Supplies expense                         $4, 590

supplies                                                                    $4, 590

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