Math  /  Word Problems

QuestionRecord adjusting entries for Wolverine Company on December 31, 2021, based on these transactions:
1. Rent received: $4,000\$ 4,000 (Deferred Revenue)
2. Insurance: $13,200\$ 13,200 (Prepaid Insurance)
3. Salaries: $3,000\$ 3,000 (to be paid in January)
4. Loan: $15,000\$ 15,000 (10% interest due in 2022)
5. Supplies: Start $1,000\$ 1,000, add $3,400\$ 3,400, end with $500\$ 500.

Studdy Solution
Calculate the Supplies Expense.
SuppliesExpense=$,000+$3,400$500=$3,900Supplies\, Expense = \$,000 + \$3,400 - \$500 = \$3,900

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