The Supplies account had a balance at the beginning of year…
The Supplies account had a balance at the beginning of year 3 of $9,800. Payments for purchases of supplies during year 3 amounted to $51,700 and were properly recorded as supplies. A physical count at the end of year 3 revealed supplies costing $14,300 were remaining on hand. The required adjusting entry at the end of year 3 will include a debit to:
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