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Brief Exercise 3-6 (Algo) Record the adjusting entry for supplies (LO3-3) At the beginning of the year, Golden Gopher Company reports a balance in Supplies
Brief Exercise 3-6 (Algo) Record the adjusting entry for supplies (LO3-3) At the beginning of the year, Golden Gopher Company reports a balance in Supplies of $420. During the year, Golden Gopher purchases an additional $2,500 of supplies for cash. By the end of the year, only $220 of supplies remains. Required: 1.\&2. Record the necessary entries in the Journal Entry Worksheet below. 3. Calculate the year-end adjusted balances of Supplies and Supplies Expense. Answer is not complete. Complete this question by entering your answers in the tabs below. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Answer is not complete. Complete this question by entering your answers in the tabs below. Calculate the year-end adjusted balances of Supplies and Supplies Expense
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