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What account should be credited and for how much

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Question - On January 1, the balance in the supplies account was $200. During the month of January, $60 of additional supplies were purchased. On January 31, a physical count of the supplies indicated that there were still $175 of supplies left on hand. Based on the above, please provide the adjusting entry necessary at the end of January - what account should be debited, what account should be credited and for how much?

Reference no: EM132828169

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