Bridge Company Keeps a Small Inventory of Supplies Used for Cleaning

Essay

Bridge Company keeps a small inventory of supplies used for cleaning and maintenance purposes.On January 1,2019,the inventory of supplies on hand was $2,000.During the year,supplies purchased were debited to the supplies account in the amount of $6,500.On December 31,2019,the amount of supplies in the storeroom was $1,750.The books are adjusted only at year-end.
Prepare the adjusting entry required at December 31,2019.