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At year-end, physical count of office supplies reveals that $7000 of supplies were used up but no adjusting entry was made to account for this.
At year-end, physical count of office supplies reveals that $7000 of supplies were used up but no adjusting entry was made to account for this. If the omission is found before the books are closed the adjusting entry to record the error will include ... A. a debit to office supplies expense B. A credit to office supplies expense C. A debit to inventory D. None of the above
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