Saturday, November 5, 2011

Had 1800 of supplies on 1/1/08. Purchased 7000 for of 08 @ EOY on hand was 2300. what is supply and sup expens?

Had $1800 of supplies on 1/1/08, purchased $7000 for the year. At the E.O.Y. had $2300 on hand. After adjustments are recorded what is the balance in supplies and supplies expense accounts. I got $2300 and $6500

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