The Vintage Laundry Company purchased $6,500 worth of laundry supplies on June 2 and recorded...
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Accounting
The Vintage Laundry Company purchased $6,500 worth of laundry supplies on June 2 and recorded the purchase as an asset. On June 30, an inventory of the laundry supplies indicated only $2,000 on hand. The adjusting entry that should be made by the company on June 30 is:
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