Xyz and company purchased supplies for 1600 on march 1 2014, Financial Accounting

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Xyz and company purchased supplies for 1600 on march 1 2014

xyz and company purchased supplies for $1600 on march 1, 2014. On December, 2014 XYZ had $1200 of supplies on hand. Some of XYZ'z accounts will need to be adjusted related to this transaction. Which accounts would be adjusted should the accounts be increased or decreased and by how much?

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Financial Accounting: Xyz and company purchased supplies for 1600 on march 1 2014

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Financial Accounting: Xyz and company purchased supplies for 1600 on march 1 2014

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