On October 15,2008,an enterprise fund of Blacksburg purchased office supplies at a cost of $10,000.The inventory of office supplies on hand at the June 30,2009,fiscal year end was $4,000.There was no beginning inventory.Blacksburg should make entries that include:

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The supplies purchased are initially recorded as an asset (debit Supplies $10,000). At the fiscal year-end, the used supplies are recognized as an expense, leaving $4,000 in inventory, so $6,000 is credited from Supplies.

On October 15,2008,an Enterprise Fund of Blacksburg Purchased Office Supplies