Adjusting Entries: Supplies Video Lessons

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Problem: The supplies account shows a beginning balance of $3,000. Assume the supplies account shows a debit for $5,500 representing supplies purchased during the period and the supplies inventory at year-end is $1,700. The adjusting entry involves a: A) debit to supplies expense for $6,800 B) debit to supplies for $1,700 C) debit to supplies for $6,800 D) debit to supplies expense for $1,700

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Problem Details

The supplies account shows a beginning balance of $3,000. Assume the supplies account shows a debit for $5,500 representing supplies purchased during the period and the supplies inventory at year-end is $1,700. The adjusting entry involves a:

A) debit to supplies expense for $6,800

B) debit to supplies for $1,700

C) debit to supplies for $6,800

D) debit to supplies expense for $1,700

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