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myrzilka [38]
3 years ago
10

Solve for the missing amounts using a T-account for the balance sheet accounts in each situation. Assume that there is only one

debit entry and one credit entry in the account during the month. Required: a. The Supplies account had a balance of $1,250 at the beginning of the month and $1,700 at the end of the month. The cost of supplies purchased during the month was $4,000. Calculate the cost of supplies used during the month.
Business
1 answer:
miss Akunina [59]3 years ago
5 0

Answer:

$3,550

Explanation:

Supplies used = Opening supplies + Purchases of Supplies - Ending Supplies

therefore,

Supplies used = $1,250 + $4,000 - $1,700

                         = $3,550

thus,

The cost of supplies used during the month is $3,550.

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