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Supplies Originally Cost $500, but Only $150 Worth of Supplies

Question 38

Multiple Choice

Supplies originally cost $500, but only $150 worth of supplies were used this period. The adjusting entry would be


A) debit Supplies Expense, $150; credit Supplies, $150.
B) debit Supplies Expense, $350; credit Supplies, $350.
C) debit Supplies, $150; credit Supplies Expense, $150.
D) debit Supplies, $350; credit Supplies Expense, $350.

Correct Answer:

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