Business, 19.02.2020 23:29 DojaCat

On November 1, Candid Equipment had a beginning balance in the Office Supplies account of $1,100.

During the month, Candid purchased $2,300 of office supplies.

At November 30, Candid Equipment had $1,700 of office supplies on hand.

Requirements

1.The Office Supplies T-account has been opened for you. Enter the beginning balance and purchase of office supplies.

2.Record the adjusting entry required at November 30.

3.Post the adjusting entry to the two accounts involved, and show their balances at November 30

Answers: 2

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On November 1, Candid Equipment had a beginning balance in the Office Supplies account of $1,100.

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