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Ridge Corporation had a Supplies account that showed a beginning debit balance of $500. During the year, supplies purchased totaled $450. There were $250 of
Ridge Corporation had a Supplies account that showed a beginning debit balance of $500. During the year, supplies purchased totaled $450. There were $250 of supplies remaining at year-end. The adjusting entry for Supplies would include a:
Select one:
a. Credit to Supplies for $950
b. Debit to Supplies Expense for $700
c. Credit to Supplies Expense for $700
d. Debit to Supplies for $250
e. Credit to Supplies Expense for $950
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