Which one of these pieces of information do I need to make an adjusting entry for and what is the entry?
1) other expenses was charged during the year when supplies were purchased. Supplies on hand at 12/31/08 total 4,300. (Supplies currently in the supply account is 4,000.)
2) on October 1, 2008 the company had paid 6,000 for a year's rent on its warehouse
Thanks so much!