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13) Prior to recording adjusting entries, the Supplies Inventory account has a $150,000 debit balance. A physical count of Supplies Inventory shows a balance
13) Prior to recording adjusting entries, the Supplies Inventory account has a $150,000 debit balance. A physical count of Supplies Inventory shows a balance of $35,000 still on hand. The required adjusting journal entry is: a. Debit Supplies Inventory 115,000; credit Supplies Expense 115,000 b. Debit Supplies Expense 115,000; credit Supplies Inventory 115,000 c. Debit Supplies Expense 35,000; credit Supplies Inventory 35,000 d. Debit Supplies Expense 150,000; credit Supplies Inventory 150,000 e. Debit Supplies Inventory 35,000; credit Supplies Expense 35,000 14) On November 1 Nair Corporation receive services to ha
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