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Formula: Add, Subtract; Cell Referencing

Using Excel to Record Transactions PROBLEM

Burns Consulting Company's maintains a general ledger for Supplies. A count on May $31,2024,$ determined the supplies on hand. The following cost information is available for the company's Supplies account.

January $1,$ Supplies on hand May $31,$ Purchase on account December $31,$ Supplies on hand

$

$785$

$3,255$

$1,035$

Student Work Area

Required: Provide input into cells shaded in yellow in this template. Use mathematical formulas with cell references to the Problem and work areas as indicated.

a$.$ Prepare the journal entry to record the purchase of supplies on May

$\backslash$table$[[$Date$,$Debit,Credit$],[$May $31,,]]$

b$.$ Calculate the amount of supplies used during $2024.$

c$.$ Prepare the adjusting entry required at December $31,2024.$

Date

Date

$31q,$ Debit

Credit

$$

Enter Answer

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