Business, 20.06.2020 23:57, Alisewilcox

On April 1, Kelly Company purchased $2,300 of supplies on account and debited Supplies Expense, which is an alternate way of recording the initial expenditure. At the end of the calendar year, $2,000 of supplies remained. If the appropriate adjusting entry is not made at the end of the year, what will be the effect on:

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On April 1, Kelly Company purchased $2,300 of supplies on account and debited Supplies Expense, whic...