Gleason Advertising Company's trial balance at December 31 shows Advertising Supplies $6,700 and Advertising Supplies Expense $0. On December 31, there are $1,700 of supplies on hand. Prepare the adjusting entry at December 31, and using T accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted balance in each account.© BrainMass Inc. brainmass.com June 3, 2020, 7:11 pm ad1c9bdddf
Date Particulars Debit Credit
31Dec Advertising Supplies Expense 5000
Advertising Supplies 5000
Advertising Supplies Expense
Date Particulars Amount Date Particulars Amount
The solution shows T accounts, the adjusting entries, and indicate the adjusted balance in each account.