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Explain what the supplies expense is

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Problem 1: You start the year with a supplies inventory of $4,500. During the year, you made a cash purchase of supplies for $5,000 and a credit purchase of supplies for $6,500. You paid 70% of the credit purchases of supplies. Your ending supplies inventory is $5,400. The supplies expense is

Select one:

a. $4,100
b. $8,650
c. $6,050
d. $10,600

Reference no: EM132820724

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