When office photocopying paper is purchased it is recorded as an asset. An end of period stock-take

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When office photocopying paper is purchased it is recorded as an asset. An end of period stock-take (count) revealed a closing balance of $4,000. There was no opening balance and during the period $9,000 of photocopying paper was purchased.

Record the adjusting entry.

Related Book For answer-question

Intermediate Accounting

ISBN: 978-0324592375

17th Edition

Authors: James D. Stice, Earl K. Stice, Fred Skousen

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Posted Date: Jun 29, 2018 11:30 AM

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When office photocopying paper is purchased it is recorded as an asset. An end of period stock-take

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Date Account Name Debit Credit Office supplies expenses... View the full answer

Intermediate Accounting

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