If Regent Tax Services' office supplies account balance on March 1 was $1,400,the company purchased $675 of supplies during the month,and a physical count of supplies on hand at the end of March indicated $1,250 unused,what is the amount of the adjusting entry for office supplies on March 31?
A)$675
B)$825
C)$1,250
D)$1,975
E)$525

Question

Quizplus · Accepted Answer

The adjusting entry for office supplies would be the difference between the beginning balance plus the purchases and the ending balance. 
Beginning balance: $1,400 
Plus purchases: $675 
Minus ending balance: $1,250 
= $825, which is option B.

If Regent Tax Services' Office Supplies Account Balance on March