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Solve for the missing amounts in the T-account given below. Assume that there is only one debit entry and one credit entry in the account
Solve for the missing amounts in the T-account given below. Assume that there is only one debit entry and one credit entry in the account during the month.
Required:
a. The Supplies account had a balance of $1,650 at the beginning of the month and $2,500 at the end of the month. The cost of supplies purchased during the month was $4,800. Calculate the cost of supplies used during the month.
b. Wages Payable had a balance of $6,700 at the end of the month. During the month, $37,000 of wages were paid to employees. Wages expense accrued during the month totaled $38,500. Calculate Wages Payable at the beginning of the month
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