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Question - Alpha Company started the year with a balance of zero in supplies. During the period buys $14,960 of supplies for cash during the year and $10,200 are consumed by end of year. The adjustment for usage was correctly journalized and posted. However, the journal entry for the purchase was erroneously posted twice to the ledger. This error will not make the year-end trial balance or the balance sheet out of balance.
Required - What is the correct amount of year-end balance of the supplies account as reported in the balance sheet?
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