Model Company Keeps a Small Inventory of Supplies Used for Cleaning

Essay

Model Company keeps a small inventory of supplies used for cleaning and maintenance purposes.
On January 1, 20A, the inventory of supplies on hand was $400. During the year, supplies purchased were debited to the supplies inventory account in the amount of $800. On December 31, 20A, the inventory count of supplies in the storeroom was $100. Give the adjusting entry required at December 13, 20A.