On january 1, year 2, the supplies account of sheldon company had a balance of $1400. during the year, the company purchased $4100 of supplies on account and made partial payments totaling $2300 on those accounts. on december 31, year 2, sheldon determined that there were $2300 of supplies on hand. which of the following would be reported on sheldon's year 2 financial statements? $2300 of supplies; $1800 of supplies expense $3200 of supplies; $900 of supplies expense $3200 of supplies; $4100 of supplies expense $2300 of supplies; $3200 of supplies expense

$2300 of supplies; $3200 of supplies expense

Explanation:

The computation of the supplies expense is shown below

= Supplies balance + Purchased of supplies -  supplies on hand

= $1,400 + $4,100 - $2,300

= $3,200

Along with it, the journal entry is also recorded for better understanding

Supplies expense A/c Dr $3,200

                             To supplies A/c $3,200

(Being supplies account is adjusted)

The closing balance of supplies is $2,300 and supplies expense would be $3,200

answer: life insurance

explanation:

a. primarily outdoors, responding to emergencies and protecting people.

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