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This fact pattern provides information needed to answer Q#17-Q#21. Year 1 Transactions: On May 31, Year 1, Merle bought $14,000 of supplies on account on the day the firm was founded. This was the only purchase of supplies in Year 1. Later in Year 1, the firm returned defective supplies valued at $4,000 to the supplier. The cost of the supplies returned was deducted from Merle's account payable. At the end of Year 1, Merle's employees conducted a physical count of supplies on hand determining the remaining supplies to be worth $2,000. On December 31, Year 1, Merle made payments to the firm's suppliers for Click Save and Submit to save and submit. Click Save All Answers to save all answers Save Al so 888 * $ 4 % 5 & 7 & a 8 E R T Y U 1 o D F H J K C V B N M determining the remaining supplies to be worth $2,000. On December 31, Year 1, Merle made payments to the firm's suppliers for 80% of the amount owed to the suppliers. Year 2 Transactions: In Year 2, Merle purchased supplies for cash $5,000. In another transaction, Merle charged the purchase of supplies worth $8,000 on its account. Payments to suppliers in Year 2 totaled $8,000 (including cash purchases of supplies). At the end of Year 2, the employees conducted a physical count of supplies on hand determining the remaining supplies to be worth $2,500. Click Save and Submit to save and submit. Click Save All Answers to save all answers. So 888 F3 F4 A * $ 4 3 % 5 & 7 6 8 9 E R T Y U D F G H J V B N M. conducted a physical count of supplies on hand determining the remaining supplies to be worth $2,500. When doing your calculations you may round numbers to the nearest one- hundredth [.01). Enter your final answer in whole numbers without '' or commas. Do not use a't sign in front of a positive numerical answer. If you want to express a negative value, you must do so with a sign. Entero if there is no balance in this account for Year 1. Q#17. Supplies Expense in Year 1 Click Save and Submit to save and submit. Click Save All Answers to save all answers F3 FS 3 4 % 5 & 7 6 8 9 E R T Y U " D F I J K V B N. M