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On July 31, the trial balance indicates that the supplies account has a balance, prior to the adjusting entry, of $430. A physical count of
On July 31, the trial balance indicates that the supplies account has a balance, prior to the adjusting entry, of $430. A physical count of the supplies inventory shows that $120 of supplies remain. Analyze the adjustment for supplies using T accounts, and then formally enter this adjustment in the general journal.
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