Answer:
Debit Supplies expense $5,880
Credit Supplies account $5,880
Being entries to record the amount of supplies used between 2 June and 30 June.
Explanation:
The purchase of laundry supplies yet to be used is a transaction that gives rise to an asset (inventory). The purchase is recorded as a debit to supplies and a credit to either cash or accounts payable.
When the supplies are used, the entries required to recognize the use are debit supplies expenses and credit supplies account (earlier debited at purchase)
If the purchase on 2 June is $7140, and on 30 June amount left is $1260
Amount of supplies used = $7140 - $1260
= $5880
