#29 HEINZ Company has a beginning balance in Supplies Inventory of P32,000. During the year, it acquired P763,000 additional supplies and charged it to Supplies Expense. At the end of the year, the remaining unused supplies amounted to P40,000. The adjusting entry at the end of the year should contain a credit to Supplies Expense of what amount?

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A: Hi student Since there are multiple subparts, we will answer only first three subparts.

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