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In the T-Account below, how much would the ??? represent?
Liability
| |||
|
|
127
|
Beg. Balance
|
|
476
|
???
|
|
|
|
214
|
End. Balance
|
Determine the missing amount:
| Assets | Liabilities | Equity |
| 7288 | 5549 |
Supplies are recorded as assets when purchased. Therefore, the credit to supplies in the adjusting entry is for the amount of supplies