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Presented below is the trial balance for ABC, Inc. as of December 31, 2008, before...

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Question

Accounting

Presented below is the trial balance for ABC, Inc. as of December 31, 2008, before adjusting entries:

ABC , INC.

Trial Balance

December 31, 2008

DR

CR

Cash

$28,400

Accounts Receivable

12,500

Prepaid Insurance

7,200

Equipment

25,000

Accumulated Depreciation Equipment

$ 800

Unearned Revenue

6,000

Notes Payable

7,950

Retained Earnings

5,000

Common Stock

29,000

Fee Revenue

39,000

Salaries Expense

13,200

Supplies Expense

950

Interest Expense

500

$ 87,750

$ 87,750

29. At December 31, there were $400 of supplies on hand. The adjusting entry on December 31, 2008 is a:

a. debit to Supplies and a credit to Cash

b. debit to Supplies and a credit to Supplies Expense

c. debit to Supplies Expense and a credit to Cash

d. debit to Supplies Expense and a credit to Supplies

e. None of the above

30. Refer to the previous question. The amount of the entry is:

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