Purrfect Pets had $6,000 of supplies at the end of October.During November,the company bought $2,000 of supplies.At the end of November,the company had $1,000 of supplies remaining.Which of the following statements is not true?
A) During November,the company used $7,000 of supplies.
B) The carrying value of supplies on November 30 should be $1,000.
C) An expense should be debited for $7,000 in November.
D) An expense should be debited for $1,000 in November.
Correct Answer:
Verified
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