Multiple Choice
On January 1, 20B, the ledger of Global Corporation correctly showed supplies inventory of $500. During 20B, supplies purchases amounted to $700. A count (inventory) of supplies on hand at December 31, 20B, showed $400. The 20B income statement should report supplies expense amounting to which of the following?
A) $1,100.
B) $1,200.
C) $700.
D) $800.
Correct Answer:
Verified
Correct Answer:
Verified
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