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8: (4 Points). If the beginning balance in supplies was $8,000, and the Company purchased supplies in the amount of $2,000 and the ending balance
8: (4 Points). If the beginning balance in supplies was $8,000, and the Company purchased supplies in the amount of $2,000 and the ending balance (supplies on hand) was $3,000, what would be the correct amount of the adjusting entry? You can draw a T Account if that helps you. 9: (4 Points). A company pays wages on Friday of each week, for the pay period ending that Friday. The pay covers 5 workdays. This week, we will pay out $25,000 on Friday, and our team works evenly each day. If the month ends on Thursday of the current week, what would be the amount of adjusting entry necessary at the end of the period
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