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What will be the balances in the supplies expense accounts

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Problem

Z Ltd had Rs1800 of supplies on hand at January 1, 2006. During 2006, supplies with a cost of Rs7, 000 were purchased. At December 31, 2006, the actual supplies on hand amounts to Rs2, 300. After the adjustments are recorded and posted at December 31, 2006, the balances in the Supplies and Supplies Expense accounts will be?

Reference no: EM131819920

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