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During its first year of business, XYZ Inc. purchased $1,600 of supplies. By the end...

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Question

Accounting

During its first year of business, XYZ Inc. purchased $1,600 of supplies. By the end of the year, only $500 of supplies remain in the supply cabinet. Determine the amount to be reported in the Supplies account in the Adjusted Trial Balance section of the worksheet prepared on December 31.

A. $2,100

B. $1,600

C. $1,100

D. $500

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