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Ibra Company purchased OMR 6,500 worth of supplies on January 1 and recorded the purchase as an asset. On June 30, an inventory of the
Ibra Company purchased OMR 6,500 worth of supplies on January 1 and recorded the purchase as an asset. On June 30, an inventory of the supplies indicated only OMR 1,000 on hand. The adjusting entry that should be made by the company on June 30 is: Select one: O a. None of the answers are correct O b. Debit Supplies Expense, OMR 5,500; Credit Supplies, OMR 5,500 O c Debit Supplies, OMR 5,500; Credit Supplies Expense, OMR 5,500 d. Debit Supplies OMR 1,000; Credit Supplies Expense, OMR 1,000 e. Debit Supplies Expense. OMR 1,000; Credit Supplies, OMR 1,000
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