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Prepaid Expense At the beginning of the quarter, a company had $2,670 of supplies on hand. During the period, the company purchased $500 worth of
Prepaid Expense At the beginning of the quarter, a company had $2,670 of supplies on hand. During the period, the company purchased $500 worth of supplies. At the end of the year, on December 31, the supplies on hand are $1,220. a. How much of an adjustment should the company make to show the use of the supplies? b. Record the journal entry to make the adjustment Please create a journal
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