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4 September, 21:24

At March 1,2020, Candy inc. Had supplies on hand of $500. During the month Candy purchased supplies of $1200 and used supplies of $500. The March 31 adjusting journal entry shoud include what?

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  1. 5 September, 01:16
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    Answer: The March 31 adjusting journal entry shoud include $1200

    Explanation: Given that the

    Supplies on hand = $500

    Candy purchased supplies of $1200 and used supplies of $500

    The unused supplies will be:

    1200 - 500 = 700 dollars

    The March 31 adjusting journal entry shoud include the addition of the supplies on hand and the unused supplies. That is,

    500 + 700 = 1200 dollars
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