To record the adjustment for supplies on the worksheet, a credit is made to Supplies for the beginning supply balance, and a debit for the same amount is made to Income Summary.

Question

Quizplus · Accepted Answer

The adjustment for supplies on the worksheet involves debiting Supplies Expense for the amount of supplies used and crediting Supplies for the same amount, reflecting the decrease in supplies on hand, not involving the Income Summary account.

To Record the Adjustment for Supplies on the Worksheet, a Credit