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Select all that apply $500 of supplies were purchased at the beginning of the period. By the end of the period, only $100 remains. The
- Select all that apply $500 of supplies were purchased at the beginning of the period. By the end of the period, only $100 remains. The adjustment to show the $400 of supplies used would have the following effects. (Check all that apply.) Multiple select question. It would reduce assets, so total assets would be lower. It would increase expenses, so profit would be reduced. It would reduce expenses, so profit would be increased.
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