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On Jan 1st 2020, the ledger of Cumberbatch Corp. correctly showed supplies inventory of $10,000. During 2020, supplies purchased amounted to $40,000. An inventory count
On Jan 1st 2020, the ledger of Cumberbatch Corp. correctly showed supplies inventory of $10,000. During 2020, supplies purchased amounted to $40,000. An inventory count of supplies on hand at Dec 31st 2020, showed supplies on hand of $14,000. Give the required 2020 year end adjusting entry.
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Accounting Theory Contemporary Accounting Issues
Authors: Thomas G. Evans
1st Edition
0324107846, 9780324107845
