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Complete the following adjusting entry for Mookie The Beagle Concierge. Mookie The Beagle Concierge purchased $426 of supplies during January 2018. At the end of
Complete the following adjusting entry for Mookie The Beagle Concierge.
Mookie The Beagle Concierge purchased $426 of supplies during
January 2018. At the end of the accounting period on January 31, Mookie
The Beagle Concierge still had $236 of unused supplies on hand. The
$236 of Supplies is an asset with future benefit. Since Mookie The Beagle
Concierge recorded the entire $426 as Supplies Expense, an adjusting
entry is needed to bring accounts up to date at January 31.
the accounts:
Supplies Expense (Expense)
Prepaid Expenses: Supplies
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