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A company had no office supplies available at the beginning of the year. During the year, the company purchased $370 worth of office supplies. On

A company had no office supplies available at the beginning of the year. During the year, the company purchased $370 worth of office supplies. On December 31, $125 worth of office supplies remained. How much should the company report as office supplies expense for the year?

  1. $245.
  2. $495.
  3. $370.
  4. $225.
  5. $125.

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