At the beginning of the year, Golden Gopher Company reports a balance in Supplies of...
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Accounting
At the beginning of the year, Golden Gopher Company reports a balance in Supplies of $320. On May 15, Golden Gopher purchases an additional $1,500 of supplies for cash. By the end of the year, only $120 of supplies remains.
Required:
Record the purchase of supplies on May 15.
Record the adjusting entry on May 31.
Journal entry worksheet Note: Enter debits before credits
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