Which of the following items represents a deferral?

1. Which of the following items represents a deferral?

A. Prepaid insurance

B. Wages payable

C. Fees earned

D. Accumulated depreciation

2. If the supplies account indicated a balance of $2,250 before adjustment on May 31 and supplies on hand at May 31 totaled $950, the adjustment would be:

A. Increase Supplies, $950; Decrease Supplies Expense, $950.

B. Increase Supplies, $1,300; Decrease Supplies Expense, $1,300.

C. Increase Supplies Expense, $950; Decrease Supplies, $950.

D. Increase Supplies Expense, $1,300; Decrease Supplies, $1,300.

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