Collin printing began operation on January 1. On January 7, Collin purchased supplies on account...
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Accounting
Collin printing began operation on January 1. On January 7, Collin purchased supplies on account for $1,000. At the end of January, Collin had $600 of supplies on hand. The proper journal entry for the January 7 transaction would:
Include a debit to supplies for $1,000
Include a debit to supplies expense for $400
include a debit to supplies for $600
none
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