Question: Current Attempt in Progress The Supplies account had a balance at the beginning of the year of $ 7 7 0 0 ( before the

Current Attempt in Progress
The Supplies account had a balance at the beginning of the year of $7700(before the reversing entry). Payments for purchases of supplies during the year amounted to $46200 and were recorded as an expense. A physical count at the end of the year revealed supplies costing $14000 on hand. Reversing entries are used by this company. The required adjusting entry at the end of the year will include a debit to:
Supplies Expense for $6300.
Supplies for $6300.
Supplies Expense for $39900.
Supplies for $14000.
Current Attempt in Progress The Supplies account

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