Question: Solve for the missing amounts in the T-account given below. Assume that there is only one debit entry and one credit entry in the account
Solve for the missing amounts in the T-account given below. Assume that there is only one debit entry and one credit entry in the account during the month.
Required:
a.The Supplies account had a balance of $1,500 at the beginning of the month and $2,200 at the end of the month. The cost of supplies purchased during the month was $4,500. Calculate the cost of supplies used during the month.
b.Wages Payable had a balance of $6,400 at the end of the month. During the month, $34,000 of wages were paid to employees. Wages expense accrued during the month totaled $35,500. Calculate Wages Payable at the beginning of the month.
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