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hello everyone this is Larry your instructor for financial accounting I want to show you an example of an adjusting entry specifically an entry for consuming or using supplies weamp;#39;re going to see how we make an adjustment that shows how much we have expensed in supplies over a period and that period could be a month recorder or a year this is a typical example that you will see in nearly any financial accounting textbook first before we talk about supplies letamp;#39;s look at an example that many of us are familiar with today I stopped for lunch at a barbecue restaurant and they had sweet tea in a large stainless steel container looked kind of like this Iamp;#39;ve drawn this very simply and if we were to work at a restaurant like this during the rush hour at lunch we could figure out as people are going up to this container and helping themselves to iced tea even though weamp;#39;re not tracking every glass of iced tea that people are taking we could figure out how much was
