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During the first year of Blossom Co . ' s operations, all purchases were recorded as assets. Supplies of $ 2 8 1 0 0

During the first year of Blossom Co.'s operations, all purchases were recorded as assets. Supplies of $28100 were purchased. Actual year-end supplies on hand totaled $6100. The adjusting entry for supplies will
increase expenses by $22000.
increase net income by $22000.
decrease supplies by $6100.
debit Accounts Payable for $6100.
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