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The asset account, Office Supplies had a beginning balance of $5,600. During the accounting period, office supplies were purchased, on account, for $5,000. A physical
The asset account, Office Supplies had a beginning balance of $5,600. During the accounting period, office supplies were purchased, on account, for $5,000. A physical count, on the last day of the accounting period, shows $3,000 of office supplies on hand. What is the amount of Supplies Expense for the accounting period?
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