A firm paid $9,000 for supplies during the accounting period. At the end of the accounting period, the firm had $5,800 of supplies on hand. What adjustment is entered on the worksheet?

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Essential Small Business Accounting Tasks
Bookkeeping:
Regularly documenting receipts, invoices, and bank transactions.
Reconciliation: Checking bank statements against accounting records to ensure accuracy.
Tax Compliance: Tracking expenses to calculate and settle tax liabilities, such as VAT or income tax.
 


1. A firm paid $9,000 for supplies during the accounting period. At the end of the accounting period, the firm had $5,800 of supplies on hand. What adjustment is entered on the worksheet?