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How adjusting journal entry at end of september recorded

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Question - On September 1, 2015, Richard started a small business called "Ricky Rock Wrestling for Fun". "Ricky Rock" offers a party package designed for active kids, teen and adults that want to learn and practice wrestling activities for fun by learning how to perform headlocks, leg scissors and other tricks.

The following transaction occurred during the first month of operations, please indicate how the adjusting journal entry (AJE) at the end of September should be recorded:

September Description Amount 30 Inventory of brochures and cards showed that two thirds of those acquired for $300 are still available (not used) $200

Reference no: EM132645001

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