During the first year of Wisnewski Co.'s operations, all purchases were recorded as assets. Store supplies in the amount of $6,450 were purchased. Actual year-end store supplies inventory amounted to $2,150. The adjusting entry for store supplies will
A) increase net income by $4,390.
B) increase expenses by $4,390.
C) decrease store supplies by $6,450.
D) debit Accounts Payable for $2,150.
Correct Answer:
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