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How do prepare the adjusting entry at december

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Reference no: EM132617077

Wow Advertising Company's trial balance at December 31 shows Supplies £6,700 and Supplies Expense £0. On December 31, there are £1,300 of supplies on hand.

Problem 1: Prepare the adjusting entry at December 31 and, using T-accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted balance in each account.

Reference no: EM132617077

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