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In this financial accounting tutorial, instructor Larry explains how to make an adjusting entry for supplies usage. He emphasizes the importance of recording the expenses incurred from supplies over a specific period, such as a month or a year. Larry illustrates this concept using a relatable example: a barbecue restaurant's iced tea container. He points out that while individual servings may not be tracked, the total amount consumed can be estimated during busy service periods. This example sets up the understanding necessary for accounting for supplies in a typical financial accounting context.
