The Sheffield Corp. Purchased $9100 Worth Of Laundry Supplies On June 2 And Recorded The Purchase As An Asset. On June 30, An Inventory Of The Laundry Supplies Indicated Only $1500 On Hand. The Adjustment That Should Be Made By The Company On June 30 Is: Increase Supplies Expense, $1500; Decrease Supplies, $1500. Increase Supplies Expense, $7600; Decrease
The Sheffield Corp. purchased $9100 worth of laundry supplies on June 2 and recorded the purchase as an asset. On June 30, an inventory of the laundry supplies indicated only $1500 on hand. The adjustment that should be made by the company on June 30 is:
increase Supplies Expense, $1500; decrease Supplies, $1500.
increase Supplies Expense, $7600; decrease Supplies, $7600.
increase Supplies, $7600; decrease Supplies Expense, $7600.
increase Supplies, $1500; decrease Supplies Expense, $1500.
