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Using t-accounts enter the balances in the accounts

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Reference no: EM132368176

Exercise

Crane Advertising Company's trial balance at December 31 shows Supplies $8,600 and Supplies Expense $0. On December 31, there are $3,300 of supplies on hand.

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: EM132368176

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