Information relates to the supplies account

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Reference no: EM131250452

The following information relates to the supplies account of ABC Company:

January 1, 2015 December 31, 2015

Supplies ? 38,000

ABC Company reported supplies expense of $17,000 in its 2015 income statement and purchased $23,000 of supplies during 2015.

Calculate ABC Company's supplies balance at January 1, 2015. Do not use decimals in your answer.

Reference no: EM131250452

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