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Business, 12.12.2020 17:10 marcy4644

During the first year of Sheffield Corp.'s operations, all purchases were recorded as assets. Supplies in the amount of $29300 were purchased. Actual year-end supplies amounted to $5900. The adjusting entry for store supplies will:. a. increase net income by $12,900.
b. increase expenses by $12,900.
c. decrease store supplies by $6,450.
d. debit Accounts Payable for $6,450.

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