multiple choice question\nsupplies should be ______ and supplies expense should be ______ for the cost of…
multiple choice question\nsupplies should be ______ and supplies expense should be ______ for the cost of supplies used up during the period.\no increased; increased\no increased; decreased\no decreased; decreased\no decreased; increased
Answer
Brief Explanations:
Supplies is an asset account. When supplies are used up, the quantity and value of supplies on - hand decrease, so the Supplies account should be decreased. Supplies Expense is an expense account, and when supplies are used, it means an expense has occurred, so the Supplies Expense account should be increased.
Answer:
decreased; increased