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Adjustment for Prepaid Expense The supplies account had a beginning balance of $8,140 and was debited for $3,910 for supplies purchased during the year. Journalize

image text in transcribed Adjustment for Prepaid Expense The supplies account had a beginning balance of $8,140 and was debited for $3,910 for supplies purchased during the year. Journalize the adjusting entry required at the end of the year, assuming the amount of supplies on hand is $4,580. If an amount box does not require an entry, leave it blank

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