Monday, December 17, 2018

The supplies and supplies expense accounts at February 28, after adjusting entries have been posted at the end of the first year of operations

The supplies and supplies expense accounts at February 28, after adjusting entries have been posted at the end of the first year of operations, are shown in the following T accounts:

Supplies
Bal. 690 |

Supplies Expense
Bal. 4,110 |

Determine the amount of supplies purchased during the year.


Answers:
$4,800 ($690 + $4,110)

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