Huron Road Tours showed store supplies on hand to be $450. If at the end of the period supplies used were $100, the adjusting entry would include

Question

Quizplus · Accepted Answer

The correct adjusting entry for using $100 of supplies is to debit Supplies Expense for $100, reflecting the expense of the supplies used during the period. This decreases the asset (Supplies) and increases the expense (Supplies Expense), accurately reflecting the consumption of supplies.

Huron Road Tours Showed Store Supplies on Hand to Be