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The supplies account has a balance of $1,200 at the beginning of the year and was debited during the year for $2,300, representing the total of supplies purchased during the year. If $650 of supplies are on hand at the end of the year, the supplies expense to be reported on the income statement for the year is

Student Answer:

650

1,750

4,150

2,850

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Accounting Basics, Accounting

Category:- Accounting Basics
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