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On March 1, Dillmore Corporation had office supplies on hand of $900. During the month, Dillmore purchased additional supplies costing $600. Approximately $400 of unused office supplies remain on hand at the end of the month.

Prepare the necessary adjusting entry on March 31 to account for office supplies

 

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M951852

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