At the beginning of December, Global Corporation had $2,000 in supplies on hand. During the month, supplies purchased amounted to $3,000, but by the end of the month the supplies balance was only $800. What is the appropriate month-end adjusting entry?
A) Debit Cash $4,200, credit Supplies $4,200.
B) Debit Supplies $4,200, credit Supplies Expense $4,200.
C) Debit Supplies Expense $4,200, credit Supplies $4,200.
D) Debit Cash $800, credit Supplies $800.
Answer: C
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Accounting
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