The office supplies purchased during the year total $4,570, and the amount of office supplies on hand at the end of the year is $460.a. Record the following transactions directly in T accounts for Office Supplies and Office Supplies Expense, using the system of initially recording supplies as an asset:(1) Purchases for the period; (2) Adjusting entry at the end of the period.Identify each entry by number.b. Record the following transactions directly in T accounts for Office Supplies and Office Supplies Expense, using the system of initially recording supplies as an expense:(1) Purchases for the period; (2) Adjusting entry at the end of the period.Identify each entry by number.View Solution:
The office supplies purchased during the year total 4 570 and



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