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QUESTION 1

Choose the correct Adjusting entry to record Supplies Expense. Physical inventory as of June 30 for Office Supplies is $120

		A. Debit Office Supplies Expense $120 and Credit Office Supplies $120
		B. Debit Office Supplies Expense $420 and Credit Office Supplies $420
		C. None of these are correct
		D. Debit Office Supplies $120 and Credit Office Supplies Expense $120
		E. Debit Office Supplies $420 and Credit Office Supplies Expense $420