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Store supplies totaling $17,500 were purchased during the year and were immediately expensed. A physical count of the store supplies on hand December 31, 2015,
Store supplies totaling $17,500 were purchased during the year and were immediately expensed. A physical count of the store supplies on hand December 31, 2015, indicates a balance of $2,400. How would I prepare and adjusted trial balance for this? On the worksheet the Store Supplies Account has a debit balance of 17,500 and Store Supplies account is blank. |
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