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Business, 07.06.2021 15:40 Tyrant4life
Supplies are assets until they are used. When they are used up, their costs are reported as expenses. The costs of unused supplies are recorded in a Supplies asset account. Supplies are often grouped by purpose—for example, office supplies and store supplies. Office supplies include paper, toner, and pens. Store supplies include packaging and cleaning materials.
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Supplies are assets until they are used. When they are used up, their costs are reported as expenses...
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