Adjustment for prepaid expense OBJ. 2 The supplies account had a beginning balance of $3,375 and was

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Adjustment for prepaid expense OBJ. 2 The supplies account had a beginning balance of $3,375 and was debited for $6,450 for supplies purchased during the year. Journalize the adjusting entry required at the end of the year, assuming the amount of supplies on hand is $2,980.

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