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At May 1, Kentsdale Inc, reported a balance in Supplies of $300. During May, the...

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Accounting

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At May 1, Kentsdale Inc, reported a balance in Supplies of $300. During May, the company purchased supplies for S500 and consumed supplies of $400. If no adjusting entry is made for supplies a assets will be understated by $300. net income will be understated by $100. Ob. Oc expenses will be understated by $400. Od owner's equity will be overstated by $500

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