debit supplies expense
credit supplies inventory
Debit supplies expensesCredit supplies inventory
[Debit] Supplies expenses [Credit] Supplies Inventory
Debit supplies expenseCredit supplies inventory
debit supplies expenses 600credit supplies inventory 600
debit Supplies Expense; credit Supplies
Debit supplies expensesCredit supplies inventory
debit supplies expensecredit supplies inventory
[Debit] Supplies expenses [Credit] Supplies Inventory
Debit supplies expenseCredit supplies inventory
debit supplies expenses 200credit supplies inventory 200
debit supplies expenses 600credit supplies inventory 600
[Debit] Dental Supplies [Credit] Cash
Since the purchase of supplies are recorded on the books and still sitting down to be taken off. The entry would be Credit office supplies and Debit the Cash account.
debit Supplies Expense; credit Supplies
Journal entry is the first step in accounting process and it is used to record the business transections and without recording journal entry it is not possible to generate any kind of report as well as preparation of income statement or balance sheet.
This kind of journal entry is called contra entry in which at both sides that is at debit side and credit side cash or bank is used.
First of all determine that which account need correction, after that find out the correct journal entry and after that rectify the wrong transaction accordingly.