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    Financial Accounting :Adjusted balance

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    Gleason Advertising Company's trial balance at December 31 shows Advertising Supplies $6,700 and Advertising Supplies Expense $0. On December 31, there are $1,700 of supplies on hand. Prepare the adjusting entry at December 31, and using T accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted balance in each account.

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    Hello,
    Journal entry
    Date Particulars Debit Credit
    31Dec Advertising Supplies Expense 5000
    Advertising Supplies 5000

    Advertising Supplies Expense
    Date Particulars Amount Date Particulars Amount
    ...

    Solution Summary

    The solution shows T accounts, the adjusting entries, and indicate the adjusted balance in each account.

    $2.19

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