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Blue Company LLC purchased $1,000 worth of supplies on Dec. 1. On the financial statement date, Dec. 31, a count of the items in Blue's
| Blue Company LLC purchased $1,000 worth of supplies on Dec. 1. On the financial statement date, Dec. 31, a count of the items in Blue's Supply closet was $479. Prepare the entry to adjust (update) Blue's Supplies account in the General Ledger. |
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