The adjustment required for the supplies at the end of the month will include a credit to the Supplies account in the amount of $150 and a debit to the supplies expense account with the same amount.
Adjusting entries are related to journal entries which are normally made at the end of an accounting period to allocate profits and expenditure to the length wherein they truly occurred.
It refers to a fixed of journal entries recorded at the end of the accounting length to have an up-to-date and correct balance of all of the accounts.
The missing information is given here:
The necessary adjustment will include a credit to the_______________ account in the amount of $ _________(omit $/cents).
Therefore, The adjustment required for the supplies at the end of the month will include a credit to the Supplies account in the amount of $150 and a debit to the supplies expense account with the same amount.
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