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The supplies account has a $3,000 beginning balance. After counting the supplies in the stock room it was determined that $1,000 in supplies are left.

The supplies account has a $3,000 beginning balance. After counting the supplies in the stock room it was determined that $1,000 in supplies are left. What is the adjusting entry?

Debit: supplies $2000, Credit: supplies expense $2000

Debit: supplies expense $1000, Credit: Supplies $1000

Debit: supplies $1000, Credit: supplies expense $1000

Debit: supplies expense $2000, Credit: Supplies $2000

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