The beginning balance of Supplies was $5,200. During the year, the company purchased supplies costing $7,600, and at December 31, the company's year-end, the inventory of supplies remaining on hand is $5,000. How much is supplies expense for the year? Your Answer:

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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The beginning balance of Supplies was $5,200. During the year, the company
purchased supplies costing $7,600, and at December 31, the company's year-end,
the inventory of supplies remaining on hand is $5,000. How much is supplies
expense for the year?
Your Answer:
Answer
D
Transcribed Image Text:The beginning balance of Supplies was $5,200. During the year, the company purchased supplies costing $7,600, and at December 31, the company's year-end, the inventory of supplies remaining on hand is $5,000. How much is supplies expense for the year? Your Answer: Answer D
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