O $3,74 $3,120 $4,54
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Transcribed Image Text:A company's Office Supplies account shows a beginning balance of $740 and an ending balance of $680. If office supplies expense for the year is
$3,800, what amount of office supplies was purchased during the period?
Multiple Choice
$3,740.
$3,120.
$4,540.
$4,480.
$3,860
Expert Solution
Step 1
Answer :
Office supplies purchased :
| Ending supplies balance | $680 |
| Add : Office supplies expenses | $3,800 |
| Less :Beginning supplies balance | ($740) |
| Office supplies purchased | $3,740 |
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