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a total of $3450 in supplies was purchased during the year. At the end of the...

a total of $3450 in supplies was purchased during the year. At the end of the year $800 of the supplies were left. The adjusting entry needed at the end of the year is

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Answer #1
Supplies expense = 3450-800 = $2650
The adjusting entry needed at the end of the year is:
debit supplies expense $2,650; credit supplies $2,650
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