At the beginning of the month, supplies were $5,000. During the month, $7,000 of supplies were purchased.

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At the beginning of the month, supplies were $5,000. During the month, $7,000 of supplies were purchased. At month’s end, $3,000 of supplies are still on hand. What is the: ■ adjusting entry? ■ ending balance in the Supplies account?

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