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There are two common ways to record the purchase and use of office supplies.
Office supplies journal entry. Example the following example will show how to make journal entries for office supplies: Create your journal entry to adjust the account balance. In that case, the journal entry will be as below.
Write the amount that corresponds with the supplies used in the debit column. Company abc paid for office supplies on 1 st june. Debit the supplies expense account for the cost of the supplies used.
Purchase of office supplies journal entry example company abc purchased office supplies on account, costing $2,500. The supplies on hand is an asset account. To record the sale of inventory.
Essentially, an office supply journal entry includes the office supplies account as a debit. Shipping supplies are the cartons tape shrink wrap etc. (1) record the office supplies as an expense upon purchase:
Instead, they must use depreciation to record the used office supplies. On the debit side of the. Write supplies expense in the general journal.
For instance, if a company used $1,000 in supplies. Later, when the company makes the payment for the. Suppose in the above example, the beginning supplies on hand were 1,200, and the ending supplies on hand were 900, then the supplies expense for the period would be.