The asset account,Office Supplies had a beginning balance of $5,400.During the accounting period,office supplies were purchased,on account,for $5,400.A physical count,on the last day of the accounting period,shows $2,300 of office supplies on hand.What is the amount of Supplies Expense for the accounting period?
A)$5,400
B)$2,300
C)$8,500
D)$3,100

Question

Quizplus · Accepted Answer

C)
Office Supplies:
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The Asset Account,Office Supplies Had a Beginning Balance of $5,400