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Financial Accounting Midterm - Part 1 of 3!
SAMPLE
This is a sample practice set. In order to have a more personalized exam prep experience:
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3. Accrual Accounting Concepts / Adjusting Entries: Supplies / Problem 16
Problem 16

A company has a supplies account balance of \$1,200. An inventory count shows \$400 worth of supplies remaining. What adjusting entry should be made?