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Financial Accounting

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Adjusting Entries: Supplies

FINACT-GYRVM7

AAA Landscaping has a balance of \$15,000 in the Supplies Inventory account at the beginning of the year and purchases another \$10,000 of supplies during the year. At the end of the year, the company takes an inventory of its supplies and finds they have items that cost a total of \$14,500 remaining in Supplies Inventory.

What is the amount of supplies expense that should be recorded for the year?

A

\$10,500

B

\$10,000

C

\$14,500

D

\$15,000