Question
On January 1, 20X1, Gibby Company's supplies account had a balance of $10,000. It purchased $15,000 worth of supplies during the year. On December
On January 1, 20X1, Gibby Company's supplies account had a balance of $10,000. It purchased $15,000 worth of supplies during the year. On December 31, 20X1, the end of the accounting period, a count revealed that there were $5,000 of supplies still on hand. Calculate the amount of supplies used during the period. Do not include commas, dollar signs or text. Answer:
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Financial Accounting
Authors: Belverd E. Needles, Marian Powers
11th edition
1133769314, 053847601X, 9781133715023, 978-1133769316, 1133715028, 978-0538476010
