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What is the adjusting entry amount for supplies expense

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Question - On April 1, the Office Supplies account of Acme Flooring had a balance of $350. During April Acme purchased an additional $2,600 of office supplies. On April 30, office supplies on hand amounted to $200.

A. What is the adjusting entry amount for Supplies Expense at April 30th?

B. If the adjusting entry for Supplies Expense is not entered, net income will be overstated by ____________.

C. If the adjusting entry for Office Supplies is not entered, assets will be overstated by ____________.

Reference no: EM133186355

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