XACC 280 Week 5 Appendix O

Use this template to complete the assignment per the instructions below Daisy Florist Chart of Accounts: No. 101 Cash No. 112Accounts Receivable No. 126Supplies No. 201Accounts Payable No. 205Unearned Revenue No. 311Common Stock No. 400Service Revenue No. 726Rent Expense No. 729Supplies Expense Daisy Florist has a beginning balance in Supplies of $5,400. On May 31 Daisy Florist took a physical count of supplies on hand. Daisy Florist made an adjusting entry for $2,300 for supplies used during the month. Instructions (a) Journalize the adjusting entry on May 31 on the tab labeled General Journal (b) Post the adjusting entry to the ledger accounts on the tab labeled Ledger Accounts (c) Journalize the closing entry on May 31 on the tab labeled General Journal (d) Post the closing entry to the ledger accounts on the tab labeled Ledger Accounts (e) Journalize the reversing entry on June 1 on the tab labeled General Journal (f) Post the reversing entry to the ledger accounts on the tab labeled Ledger Accounts (g) Indicate if the balance of Supplies and Supplies Expense is a debit or a credit balance