If the purchase of Office Supplies was originally debited to an expense account and correctly adjusted at year end, the reversing entry required in the next period would
A)Debit Office Supplies, Credit Office Supplies Expense.
B)Debit Office Supplies Expense, Credit Income Summary.
C)Debit Office Supplies Expense, Credit Office Supplies.
The Accounting Information System 3 - 13
D)Debit Office Supplies Expense, Credit Cash.

Question

Quizplus · Accepted Answer

The reversing entry would debit Office Supplies Expense and credit Office Supplies to reverse the original incorrect entry and reflect the correct adjustment.

If the Purchase of Office Supplies Was Originally Debited to an Expense