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The Righter Shoe Store Company prepares monthly financial statements for its bank. The November 30 and December 31, 2016, trial balances contained the following account
The Righter Shoe Store Company prepares monthly financial statements for its bank. The November 30 and December 31, 2016, trial balances contained the following account information: Nov. 30 Dec. 31 Dr. Cr. Dr. Cr. Supplies 1,800 3,300 Prepaid insurance 6,300 4,650 11,500 15,300 Salaries and wages payable 2,600 Deferred rent revenue 1,300 The following information also is known a. The December income statement reported $2,300 in supplies expense. b. No insurance payments were recorded in December. c. $11,500 was paid to employees during December for salaries and wages. d. On November 1, 2016, a tenant paid Righter $3,900 in advance rent for the period November through January. Deferred rent revenue was credited Required: 1. What was the cost of supplies purchased during December? Supplies Beg. Bal End. Ball
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