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Assume that the accounting period ends on December 31, 2011 Bought supplies in cash amounting to $7000. Asset account was debited at the time of
Assume that the accounting period ends on December 31, 2011 Bought supplies in cash amounting to $7000. Asset account was debited at the time of purchase. It was ascertained that $2000 worth of supplies were on hand at year-end. Original Entry: Dr: Cr: Adjusting Entry Dr: Cr
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Study Guide To Accompany Financial Accounting In An Economic Context
Authors: Jamie Pratt
6th Edition
0471731110, 978-0471731115
