At the beginning of December, Global Corporation had $2,000 in supplies on hand. During the month, supplies purchased amounted to $3,000,

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

During the year, Cheng Company paid salaries of $24,000. In addition, $8,000 in salaries has accrued by the end of the year but has not been paid. The year-end adjusting entry would include which one of the following?

A) Debit to Salaries Expense for $32,000.

B) Credit to Salaries Expense of $8,000.

C) Debit to Salaries Payable for $24,000.

D) Credit to Salaries Payable for $8,000.

Answer: D