Your Supplies account on the balance sheet had a beginning balance of $2500 before $2000...
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Accounting
Your Supplies account on the balance sheet had a beginning balance of $2500 before $2000 more supplies were purchased in July. At the end of the year a physical inventory was taken revealing supplies on hand of $1500 In addition, the billing department has $18,500 in invoices for work performed during the current year. Payment on these invoices will not be received until 2017 Journalize the appropriate adjusting journal entries
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