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Sheffield Company purchased supplies costing $7180 and debited Supplies for the full amount. At the end of the accounting period, physical count of supplies revealed

Sheffield Company purchased supplies costing $7180 and debited Supplies for the full amount. At the end of the accounting period, physical count of supplies revealed $2020 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be O Debit Supplies Expense, $2020; Credit Supplies, $2020. O Debit Supplies, $5160; Credit Supplies Expense, $5160. O Debit Supplies Expense, $5160; Credit Supplies, $5160. O Debit Supplies, $2020; Credit Supplies Expense, $2020. Question Multiple Choic Question Accounting D Question Accounting D

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