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Knoll Company started Year 2 with a $500 in cash. $500 in supplies, and $1,000 in common stock accounts. During Year 2 the company experienced

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Knoll Company started Year 2 with a $500 in cash. $500 in supplies, and $1,000 in common stock accounts. During Year 2 the company experienced the following events. Paid $400 cash to purchase supplies. Physical count revealed $100 of supplies on hand at the end of Year 2. Based on this Information the amount of supplies expense reported on the Year 2 Income statement is $900. $800. $400. $100

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