Griffin Inc.purchased supplies costing $4,250 and debited Supplies for the full amount.At the end of the accounting period, a physical count of supplies revealed $2,100 still on hand.The appropriate adjusting journal entry to be made at the end of the period would be

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Quizplus · Accepted Answer

The correct adjusting entry is to record the amount of supplies used during the period, which is the difference between the supplies initially purchased ($4,250) and the supplies still on hand at the end of the period ($2,100). This difference is $2,150 ($4,250 - $2,100), which should be recorded as an expense. Therefore, Supplies Expense is debited for $2,150, and Supplies is credited for $2,150, reflecting the decrease in supplies on hand.