On January 1, 2021, Kenneth City purchased office supplies for $50,000. During the year, $42,000 of these supplies were used.Required:Record the journal entries for these transactions using the purchases method. (Disregard the encumbrance entries.)

Question

Quizplus · Accepted Answer

The Answer of On January 1, 2021, Kenneth City purchased office supplies for $50,000. During the year, $42,000 of these supplies were used.Required:Record the journal entries for these transactions using the purchases method. (Disregard the encumbrance entries.)

On January 1, 2021, Kenneth City Purchased Office Supplies for $50,000