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The Tkiban Company purchased 539,000 worth of supplies on June 2 and recorded the purchase as an asset. On June 30, an inventory of the

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The Tkiban Company purchased 539,000 worth of supplies on June 2 and recorded the purchase as an asset. On June 30, an inventory of the supplies indicated only $6,000 on hand. The adjusting entry that should be made by the company on June 30 is: a. debit Supplies, $6,000; credit Supplies Expense, S6,000. b. debit Supplies, $33,000 credit Supplies Expense, $33,000. debit Supplies Expense, S6,000, credit Supplies, $6,000. d. debit Supplies Expense, $33,000; credit Supplies, $33,000. e. None of the above

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