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If Basic Industries purchased $320,000 of supplies on account in 2018 and the Supplies account decreased by $16,000, the Supplies Expense reported by Basic for

If Basic Industries purchased $320,000 of supplies on account in 2018 and the Supplies account decreased by $16,000, the Supplies Expense reported by Basic for the year ended 12/31/2018 would be $336,000. A) True B) False

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