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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 Cos operations, all purchases were recorded as assets. Supplies of $ were purchased. Actual yearend supplies on hand totaled $ The adjusting entry for supplies will
increase expenses by $
increase net income by $
decrease supplies by $
debit Accounts Payable for $
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