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Journalize the adjusting entry on December

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Question - On January 1, Coleman Company purchased $3,060 of supplies on account. On January 1, Coleman Company debited Supplies Expense, which is an alternate way of recording the initial expenditure. By the end of the calendar year, $550 of supplies was used.

Required - Journalize the adjusting entry on December 31.

Reference no: EM132626202

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