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63. Radd Company reported the following balances after adjusting entries for the month of January have been recorded and posted. All expense accounts had a

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63. Radd Company reported the following balances after adjusting entries for the month of January have been recorded and posted. All expense accounts had a zero balance at the start of January. Debit Credit Supplies $ 500 Supplies Expense 750 Wages Payable $ 700 Wages Expense 3,600 Assuming that the amount in the Supplies Expense account represents the adjustment made at January 31 for the supplies used in January and that $950 of supplies were purchased in January, the balance of Supplies at January 1 must have been: A. $300 C. $200 B. $500 D. $700 64. Refer to the information given in Problem #63. Assuming that no balance existed in Wages Payable on January 1, the amount of wages paid during January must have been: A. $700 C. $4,300 B. $2,900 D. $3.600

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