Fisher Accounting's fiscal year ends on July 31. Accounts are adjusted only on the last day of the fiscal year. On July 31, before adjusting journal entries were prepared, the balance of Supplies was $1,250. A physical count revealed $800 of supplies on hand. Prepare the July 31 adjusting journal entry. Omit explanations.

Question

Fisher Accounting's fiscal year ends on July 31. Accounts are adjusted only on the last day of the fiscal year. On July 31, before adjusting journal entries were prepared, the balance of Supplies was $1,250. A physical count revealed $800 of supplies on hand. Prepare the July 31 adjusting journal entry. Omit explanations.
Fisher Accounting's fiscal year ends on July 31. Accounts are adjusted only on the last day of the fiscal year. On July 31, before adjusting journal entries were prepared, the balance of Supplies was $1,250. A physical count revealed $800 of supplies on hand. Prepare the July 31 adjusting journal entry. Omit explanations.

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The Answer of Fisher Accounting's fiscal year ends on July 31. Accounts are adjusted only on the last day of the fiscal year. On July 31, before adjusting journal entries were prepared, the balance of Supplies was $1,250. A physical count revealed $800 of supplies on hand. Prepare the July 31 adjusting journal entry. Omit explanations.

Fisher Accounting's Fiscal Year Ends on July 31