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During the First Year of Wisnewski Co

Question 22

Multiple Choice

During the first year of Wisnewski Co.'s operations, all purchases were recorded as assets. Store supplies in the amount of $6,450 were purchased. Actual year-end store supplies inventory amounted to $2,150. The adjusting entry for store supplies will


A) increase net income by $4,390.
B) increase expenses by $4,390.
C) decrease store supplies by $6,450.
D) debit Accounts Payable for $2,150.

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