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Prepare the adjusting entry at december 31

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Reference no: EM132315868

Question

Ritter Advertising Company's trial balance at December 31 shows Supplies $6,700 and Supplies Expense $0. On December 31, there are $2,500 of supplies on hand.

Prepare the adjusting entry at December 31, and using T-accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted balance in each account.

Reference no: EM132315868

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