During the period the Supplies asset account has had one credit entry of $72,000, and also one debit entry of $13,000 and reports an ending debit balance of $9,000 at the end of the month. Therefore, the beginning balance of Supplies must have been a: Select one: a. $81,000 debit balance. O b. $24,000 debit balance. c. $22,000 debit balance. O d. $68,000 debit balance.

During the period the Supplies asset account has had one credit entry of $72,000, and also one debit entry of $13,000 and reports an ending debit balance of $9,000 at the end of the month. Therefore, the beginning balance of Supplies must have been a: Select one: a. $81,000 debit balance. O b. $24,000 debit balance. c. $22,000 debit balance. O d. $68,000 debit balance.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 15PA: Prepare journal entries to record the following transactions. Create a T-account for Accounts...

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