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13 May, 20:36

Sebadoah is a barber who does his own accounting for his shop. Sebadoah purchased $1,500 of supplies in January and his inventory at the end of January shows $300 of supplies remaining. What adjusting entry should Sebadoah make on January 31?

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  1. 13 May, 20:50
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    Supplies expense ... Dr $1,200

    Supplies $1,200

    Explanation:

    Supplies purchased is $1,500

    Ending inventory of supplies = $300

    Inventory used during the period = 1,500 - 300

    = $1,200

    The journal entry passed to record supplies used:

    Particulars Debit Credit

    Supplies expense $1,200

    Supplies $1,200

    (To record supplies used during

    the period)
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