It is determined that One Eleven Music Studios has $500 worth of supplies left at the end

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It is determined that One Eleven Music Studios has $500 worth of supplies left at the end of March out of the $2,200 purchased in March. The entry to record the month-end adjustment is:

a. Debit Supplies Expense $500 and credit Supplies $500

b. Debit Purchases $2,200 and credit Supplies Expense $2,200

c. Debit Supplies Expense $1,700 and credit Supplies $1,700

d. None of the above.

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Related Book For  answer-question

Fundamental Accounting Principles Volume I

ISBN: 978-1260305821

16th Canadian edition

Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann

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