Prepare the year end adjusting entry for the following The supplies inventory at the beginning of...

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Prepare the year end adjusting entry for the following The supplies inventory at the beginning of the year was $7,350. Supplies costing $22,150 were acquired during the year and charged to the supplies inventory (Supplies account). A count at year end indicated supplies on hand of $8,810. Prepare the year end adjusting entry for the following The supplies inventory at the beginning of the year was $7,350. Supplies costing $22,150 were acquired during the year and charged to the supplies inventory (Supplies account). A count at year end indicated supplies on hand of $8,810.

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To prepare the yearend adjusting entry for supplies we need to account for the supplies used du... View the full answer