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Identify the appropriate adjusting journal entry for the following transaction: Voss Inc. started with a balance of $300 in the supplies account and purchased
Identify the appropriate adjusting journal entry for the following transaction: Voss Inc. started with a balance of $300 in the supplies account and purchased an additional $200 of supplies during the current year. A physical count of $50 at the end of the year indicated that $450 in supplies had been used during the year. O Debit supplies $200 Credit cash $200 O Debit: supplies $450 Credit: supplies expense $450 O Debit: supplies expense $450 Credit: supplies $450 O Debit: supplies expense $50 Credit: supplies $50
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