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The supplies account began with a $5,000 balance. During the period, purchases of supplies were $3,000. The ending balance for supplies is $4,000. Using the
The supplies account began with a $5,000 balance. During the period, purchases of supplies were $3,000. The ending balance for supplies is $4,000. Using the given information, calculate supplies expense for the period. (Hint: Supplies expense will be equal to the dollar value of supplies used during the period.)
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