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CBA Corp. has grown significantly over the past year. One area that has plagued the controller of CBA is the reconciliation of supplies expense. The end-of-year supplies on hand totaled $20, purchases totaled $500, and supplies on hand at the beginning of the year amounted to $300. How much will CBA report as supplies expense for the current year

Respuesta :

Answer:

the supplies expense for the current year is $780

Explanation:

The computation of the supplies expense is shown below:

= Beginning supplies balance + purchase made - ending supplies balance

= $300 + $500 - $20

= $780

hence, the supplies expense for the current year is $780

The same should be considered and relevant

And the above formula should be applied for the same

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