What is the adjusting journal entry made by the company

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Problem

Heavy Movers Inc. filled up the gas tanks on its fleet of delivery trucks on November 30, expensing the entire $1,400 gasoline costs paid on that date. Get the instant assignment help. Assuming that the company records journal entries on a monthly basis and that 25 percent of the gasoline purchased remains unused at calendar year-end, what is the adjusting journal entry made (if any) by the company on December 31?

Reference no: EM133901443

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