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Instruction The supplies account had a beginning balance of $1,600. Supplies purchased during the period totaled $4,000. At the end of the period before
Instruction The supplies account had a beginning balance of $1,600. Supplies purchased during the period totaled $4,000. At the end of the period before adjustment, $400 of supplies were on hand. Required: Prepare the adjusting entry for supplies. Refer to the Chart of Accounts for exact wording of account titles.
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