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On January 1st, Great Designs Company had a debit balance of $1,728 in the Office Supplies account. During the month, Great Designs purchased $482 and
On January 1st, Great Designs Company had a debit balance of $1,728 in the Office Supplies account. During the month, Great Designs purchased $482 and $740 of office supplies and journalized them to the Office Supplies asset account upon purchasing. On January 31st, an inspection of the office supplies cabinet shows that only $720 of Office Supplies remains in the locker.
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