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The supplies account had a beginning balance of $3,755 and was debited for $6,755 for...

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Accounting

The supplies account had a beginning balance of $3,755 and was debited for $6,755 for supplies purchased during the year.

Journalize the adjusting entry required at the end of the year (December 31), assuming the amount of supplies on hand is $2,640. Refer to the Chart of Accounts for exact wording of account titles.

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