A Company Had No Supplies Available at the Beginning of August.A

True/False

A company had no supplies available at the beginning of August.A company purchased $6,000 worth of supplies in August and recorded the purchase in the Supplies account.On August 31,the fiscal year-end,the physical count of supplies indicates the cost of unused supplies is $3,200.The adjusting entry would include a $2,800 debit to Supplies.