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During December,Dearborne Inc

Question 13

Multiple Choice

During December,Dearborne Inc.purchased $800 of supplies for use in its business.At the end of December,20% of the supplies were still on hand,but only 75% had been paid.What amounts will appear on the company's balance sheet on December 31? Supplies on Hand Accounts Payable


A) $ 800 $ 600
B) $ 160 $ 200
C) $ 640 $ 200
D) $ 160 $ 800

Correct Answer:

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