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The marketing department claims that 60 per cent of customers are aware of the full range of the products offered by the company. Senior management thinks it could be less. The hypotheses can be stated as:
a. H0 π = 60% H1 π ≠ 60%
b. H0 π = 60% H1 π < 60%="">
c. H0 π = 60% H1 π > 60%
d. H0 π < 60%="">1 π = 60%
Prepare the adjusting journal entry to correctly report the balance of the Supplies account and the Supplies Expense account as of December 31, 2011.
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