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The Windsor, Inc. purchased $7310 worth of laundry supplies on June 2 and recorded the purchase as an asset. On June 30, an inventory of
The Windsor, Inc. purchased $7310 worth of laundry supplies on June 2 and recorded the purchase as an asset. On June 30, an inventory of the laundry supplies indicated only $1290 on hand. The adjusting entry that should be made by the company on June 30 is: O debit Supplies Expense, $6020; credit Supplies, $6020. O debit Supplies Expense, $1290; credit Supplies, $1290. O debit Supplies, $1290; credit Supplies Expense, $1290. O debit Supplies, $6020; credit Supplies Expense, $6020
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