George Co. purchased $5,000 of supplies, paying $1,000 in cash and charging the remainder on account. $3,000 of the supplies were used during the accounting period. Show the combined effects of the events.

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The Answer of George Co. purchased $5,000 of supplies, paying $1,000 in cash and charging the remainder on account. $3,000 of the supplies were used during the accounting period. Show the combined effects of the events.

George Co Purchased $5,000 of Supplies, Paying $1,000 in Cash and and Charging