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A company expenses all office supplies that are purchased. The balance of Supplies Expense at the end of the year was $4,000. It was discovered
A company expenses all office supplies that are purchased. The balance of Supplies Expense at the end of the year was $4,000. It was discovered that there were $850 of office supplies on hand at the end of the year. Prepare the adjusting journal entry at the end of the year.
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