$1,000 of supplies were purchased at the beginning of the month. $300 were used during...
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Accounting
$1,000 of supplies were purchased at the beginning of the month. $300 were used during the month. (The Supplies account was increased at the time of the initial purchase.) Demonstrate the required adjusting journal entry by selecting from the choices below. (Check all that apply.)
Supplies expense would be debited for $300.
Supplies expense would be credited for $300.
Supplies expense would be debited for $700.
Supplies would be credited for $300. Supplies would be debited for $300.
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