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
A) debit Supplies Expense, $2,100; credit Supplies, $2,100.
B) debit Supplies Expense, $2,150; credit Supplies, $2,150.
C) debit Supplies, $4,250; credit Supplies Expense, $4,250.
D) debit Supplies, $2,100; credit Supplies Expense, $2,100.
Correct Answer:
Verified
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