Adjusting Entries: Supplies Video Lessons

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Problem: A company began operations and purchased $6,000 of supplies. By year-end, $2,700 was still on hand. The adjusting entry at year end would include a: A) debit to supplies of $6,000 B) debit to supplies expense for $2,700 C) credit to supplies for $3,300 D) credit to supplies for $2,700

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Problem Details

A company began operations and purchased $6,000 of supplies. By year-end, $2,700 was still on hand. The adjusting entry at year end would include a:

A) debit to supplies of $6,000

B) debit to supplies expense for $2,700

C) credit to supplies for $3,300

D) credit to supplies for $2,700

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