Question: Analyze each situation and indicate the correct dollar amount for the adjusting entry. (Trial balance is abbreviated as TB.) 1. Ending inventory of supplies is

Analyze each situation and indicate the correct dollar amount for the adjusting entry. (Trial balance is abbreviated as TB.) 1. Ending inventory of supplies is $260. (Balance Sheet) Supplies TB 580 Adj. fill in the blank 1 260 Bal. fill in the blank 2 (Income Statement) Supplies Expense Adj. fill in the blank 3 2. Amount of supplies used is $230. (Balance Sheet) Supplies TB 435 Adj. fill in the blank 4 Bal. fill in the blank 5 (Income Statement) Supplies Expense Adj. fill in the blank 6

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