On June 1, during its first month of operations, Crooked Rain Company purchased supplies for $4,500 and debited the supplies account for that amount. At June 30, an inventory of supplies showed $1,000 of supplies on hand. What adjusting journal entry should be made for June?

Question

Quizplus · Accepted Answer

The Answer of On June 1, during its first month of operations, Crooked Rain Company purchased supplies for $4,500 and debited the supplies account for that amount. At June 30, an inventory of supplies showed $1,000 of supplies on hand. What adjusting journal entry should be made for June?

On June 1, During Its First Month of Operations, Crooked