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Mini-Exercise 4-4 (Static) Transaction analysis using T-accounts LO 6, 7 Solve for the missing amounts in the T-account given below. Assume that there is only
Mini-Exercise 4-4 (Static) Transaction analysis using T-accounts LO 6, 7 Solve for the missing amounts in the T-account given below. Assume that there is only one debit entry and one credit entry in the account during the month. Required: a. The Supplies account had a balance of $2,400 at the beginning of the month and $3,200 at the end of the month. The cost of supplies purchased during the month was $7,800. Calculate the cost of supplies used during the month. b. Wages Payable had a balance of $5,800 at the end of the month. During the month, $28,000 of wages were paid to employees. Wages expense accrued during the month totaled $29,500. Calculate Wages Payable at the beginning of the month
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