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Meyer Co,In Its First Year of Operations,purchased $6,000 of Office Supplies

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Meyer Co.,in its first year of operations,purchased $6,000 of office supplies on account.A count of office supplies at the end of the year revealed that only $1,000 were still on hand.Show the effects of the adjusting entry that Meyer Co should make at the end of the year. Meyer Co.,in its first year of operations,purchased $6,000 of office supplies on account.A count of office supplies at the end of the year revealed that only $1,000 were still on hand.Show the effects of the adjusting entry that Meyer Co should make at the end of the year.

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