Initial Knowledge Check\ Question 1\ On November 1, Cox Company purchased

$2,650

of supplies on account. By the end of the calendar year,

$2,620

of supplies remains.\ Required:\ How much has been expensed by the end of the year?\ How much will be in the Supplies account at the end of the year, after the adjusting entries have been prepared and posted?\ Amount expensed :\

$30

\ Amount in the Supplies account :\ S 2620

On November 1, Cox Company purchased $2,650 of supplies on account. By the end of the calendar year, $2,620 of supplies remains. Required: 1. How much has been expensed by the end of the year? 2. How much will be in the Supplies account at the end of the year, after the adjusting entries have been prepared and posted