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On January 1, Year4, the ledger of Global Corporation correctly showed supplies of $1,000. During Year4, supplies purchases amounted to $5,000. A count of supplies
On January 1, Year4, the ledger of Global Corporation correctly showed supplies of $1,000. During Year4, supplies purchases amounted to $5,000. A count of supplies on hand at December 31, Year4, showed $1, 200 (aka supplies ending balance). The Year4 income statement should report supplies expense (i.e. what was used) amounting to: $ 6,000. $ 5,200. $ 4,800. $ 4,600. None of the above is correct
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