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1. Atlas Company's Store Supplies account had a beginning balance of $780. Throughout the year the company purchased $1,500 in supplies. A physical count of
1. Atlas Company's Store Supplies account had a beginning balance of $780. Throughout the year the company purchased $1,500 in supplies. A physical count of the supplies showed $525 of unused supplies available as of December 31, 2015. Prepare the required adjusting entry. 2. You have the following insurance policies:
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