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The balance in LLC, Inc's Supplies account at the financial statement date is $1,200. When supplies were counted there was only $400 of supplies on
The balance in LLC, Inc's Supplies account at the financial statement date is $1,200. When supplies were counted there was only $400 of supplies on hand. The adjusting entry required is a debit to 5 of Supplies expense; $800 Supplies, $400 Supplies expense: $400 no entry is required
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