DB
CR
a. Debit Cleaning and Office Supplies Expense (income statement)
114
Credit Account Payable (current liability)
114
– to record amounts owing at year-end for cleaning and office supplies
Debit Cleaning and Office Supplies Inventory (current asset)
382
Credit Cleaning and Office Supplies Expense (income statement)
382
– to reclassify cleaning and office supplies on hand at year-end
b. Debit Account Receivable (current asset)
11621
Credit Owner Equity
11621
– to record amounts still owing from customers at the end of the year
c. Debit Inventory (current asset)
6210
Credit Raw Goods (expense)
6210
– to record raw goods that are still on hand at the end of the year
