Actual supplies on hand as of December 31st are $350.Balance in the supplies account is $1,000.What is
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Question:
Actual supplies on hand as of December 31st are $350.Balance in the supplies account is $1,000.What is the adjusting journal entry to update the supplies balance?
Group of answer choices
a. Debit Supplies $650, Credit Supplies Expense $650
b. Debit Supplies Expense $1,650, Credit Supplies 1,650
c. Debit Supplies Expense $650, Credit Supplies $650.
d. Debit Supplies Expense $350, Credit Supplies $350
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