The supplies that have been used during the accounting period should be reported in the income statement account Supplies Expense. Basically, supplies are assets until they are used. When they are used, they become an expense.

Having a poor credit history or a low credit score can seriously impact you financially. One thing that can happen is you could be denied a line of credit. A low credit score indicates to lenders that you are a high-risk borrower and they may not be willing to lend you money.

Your credit score determines two important things and can affect your chances for getting approved. First, lending money entails risk, and your credit rating tells prospective lenders how reliable or unreliable you are at repaying loans. Second, your credit score determines what sort of terms you are likely to get.