A company purchased supplies during the year totaling $21,000.At the end of the year,they made an adjusting entry to record $16,000 of supplies that had been used during the year.The ending balance in the Supplies account after the adjustment was $12,000.The beginning balance in the Supplies account was:

Question

Quizplus · Accepted Answer

x + 21,000 - 16,000 = 12,000;x = 7,000

A Company Purchased Supplies During the Year Totaling $21,000