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Cobalt Corporation started the month of November with $2,000 in its Supplies account. During November, Cobalt purchased $8,000 of additional supplies. On November 30th, a
Cobalt Corporation started the month of November with $2,000 in its Supplies account. During November, Cobalt purchased $8,000 of additional supplies. On November 30th, a count of supplies revealed that $1,700 worth remained. What adjusting entry would Cobalt make as a result: Credit Debit 8,300 A. Supplies Supplies expenses 8,300 8,300 B. Supplies expenses Supplies 8,300 8,000 C. Supplies Cash 8,000 1,700 D. Supplies Supplies expenses 1.700 B D OC
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