9. The asset account Office Supplies has a balance of $885 at the beginning of t
ID: 2465096 • Letter: 9
Question
9.
The asset account Office Supplies has a balance of $885 at the beginning of the year. The amount on hand at the end of the year is $670. The company has calculated the Supplies Expense for the year to be $5,200. Based on this information, what amount of office supplies was purchased during the year?
A) $4,985
B) $4,530
C) $5,870
D) $0
The asset account Office Supplies has a balance of $885 at the beginning of the year. The amount on hand at the end of the year is $670. The company has calculated the Supplies Expense for the year to be $5,200. Based on this information, what amount of office supplies was purchased during the year?
Explanation / Answer
A) $4,985
The asset account Office Supplies has a balance of ($885)
The amount on hand at the end of the year is $670.
The company has calculated the Supplies Expense for the year to be $5,200.
office supplies was purchased during the year=$4,985
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