Question: Please explain the solution to this general accounting problem using the correct accounting principles. The balance in the office supplies account for Apex Innovations on

Please explain the solution to this general accounting problem using the correct accounting principles.

The balance in the office supplies account for Apex Innovations on July 1 was $5,000, supplies purchased during July were $4,000, and the supplies on hand at July 31 were $3,500. The amount to be used for the appropriate adjusting entry is

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