Abbott Corporation had a balance of $1,800 in Prepaid Supplies at the beginning of the year. The company purchased $1,200 of supplies during the year. At year end, Prepaid Supplies had a balance of $2,100. What is the amount of Supplies Expense that Abbott Corporation will recognize for the year? A. $2,100 B. $1,200 C. $900 D. $1,500

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Abbott Corporation had a balance of $1,800 in Prepaid Supplies at the beginning of the year. The company purchased $1,200 of supplies during the year. At year end, Prepaid Supplies had a balance of $2,100. What is the amount of Supplies Expense that Abbott Corporation will recognize for the year?

A. $2,100

B. $1,200

C. $900

D. $1,500 

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