The trial balance for Greenway Corporation appears as follows: If, on December 31, 2014, supplies on hand were $20, the adjusting entry would contain a:
A) debit to Supplies for $20.
B) credit to Supplies for $20.
C) debit to Supplies Expense for $120.
D) credit to Supplies Expense for $120.

Question

The trial balance for Greenway Corporation appears as follows:  If, on December 31, 2014, supplies on hand were $20, the adjusting entry would contain a:
A) debit to Supplies for $20. 
B) credit to Supplies for $20. 
C) debit to Supplies Expense for $120. 
D) credit to Supplies Expense for $120.

Quizplus · Accepted Answer

The Answer of The trial balance for Greenway Corporation appears as follows:  If, on December 31, 2014, supplies on hand were $20, the adjusting entry would contain a:
A) debit to Supplies for $20. 
B) credit to Supplies for $20. 
C) debit to Supplies Expense for $120. 
D) credit to Supplies Expense for $120.

The Trial Balance for Greenway Corporation Appears as Follows