ACCT 220-supplies were purchased for cash on May 2 for $ 8,000

by | Mar 18, 2020 | Uncategorized

  

Exercise D Supplies were purchased for cash on May 2 for $ 8,000. Show how this purchase would be recorded. Then show the adjusting entry that would be necessary, assuming that $ 2,500 of the supplies remained at the end of the year and the beginning balance for supplies was $500.

  

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