Leaning Online

The part of supplies used during the accounting period is an Expense , which is recorded on Income Statement, whose benefit is obtained by the business during the period. So, we debit supplies expense account and credit Supplies Account as a Current Asset as it is no longer to be existed in the business. Supplies Used Adjusting Entry / Supplies Expense Journal Entry                                                                           Supplies Expense a/c  XXX                                                                                               ...