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A company began operations and purchased $5,000 of supplies, recording $5,000 in the Supplies account. By year end, $3,250 was still on hand. The
A company began operations and purchased $5,000 of supplies, recording $5,000 in the Supplies account. By year end, $3,250 was still on hand. The adjusting entry at year-end would include a: Select one: O a. credit to Supplies of $5,000 O b. credit to Unearned Supplies for $3,250 Oc. credit to Supplies for $1,750 O d. debit to Supplies Expense for $3,250 O e debit to Supplies for $1,750
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