BUSINESS ADMINISTRATION
FINANCIAL ACCOUNTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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At the beginning of the current year, Donna Company had $1, 000 of supplies on hand. During the current year, the company purchased supplies amounting to $6, 400 (paid for in cash and debited to Supplies). At the end of the current year, a count of supplies reflected $2, 000. The adjusting entry Donna Company would record at the end of the current year to adjust the Supplies account would include a
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Debit to Supplies for $2, 000
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Credit to Supplies Expense for $5, 400
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Credit to Supplies for $5, 4000
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Debit to Supplies expense for $4, 400
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Explanation:
There is 1 question to complete.