Corporation had a balance of $1,600 in prepaid supplies at the beginning of the year. the company purchased $ 750 of supplies during the year. at year end, prepaid supplies had a balance of $ 2,300. what is the amount of supplies expense that alltech corporation will recognize for the year?

$750

Explanation:

Prepaid Supplies are payments made by anticipated, it means that you put this type of transaction as an investment in your assets, regardless of the value in the prepaid expenses, in the year the amount that is considered an expenditure or purchased is the $750, because effectively the company purchased $750 in supplies and it accounts in the statement of income, because in the real life the supplies was delivered to the company during the year.

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