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2. The beginning balance of supplies inventory for the year was $20,000. During the year the firm purchased $30,000 of supplies and immediately debited supplies
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The beginning balance of supplies inventory for the year was $20,000. During the year the firm purchased $30,000 of supplies and immediately debited supplies expense for that amount. At year- end, the count of supplies yielded $22,000 remaining on hand. The required AJE includes which of the following? O dr. supplies expense 28,000 O cr. supplies expense 28,000 O dr. supplies 2,000 dr. supplies 22,000 O cr. supplies 28,000Step by Step Solution
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