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Help with HW fast please! Multiple Choice Question Coronado Company purchased supplies costing $7140 and debited Supplies for the full amount. At the end of
Help with HW fast please! Multiple Choice Question
Coronado Company purchased supplies costing $7140 and debited Supplies for the full amount. At the end of the accounting period, a physical count of supplies revealed $2010 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be
Debit Supplies Expense, $2010; Credit Supplies, $2010.
Debit Supplies Expense, $5130; Credit Supplies, $5130.
Debit Supplies, $2010; Credit Supplies Expense, $2010.
Debit Supplies, $5130; Credit Supplies Expense, $5130.
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