On March 1, Cyber Corporation had office supplies on hand of $2,500. During the month, Cyber purchased

Question:

On March 1, Cyber Corporation had office supplies on hand of $2,500. During the month, Cyber purchased additional supplies costing $4,500. Approximately $3,000 of unused office supplies remain on hand at the end of the month. Prepare the necessary adjusting entry on March 31 to account for office supplies.

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