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Prior to recording adjusting entries on December 31, a company's Store Supplies account had an $880 debit balance.

Prior to recording adjusting entries on December 31, a company's Store Supplies account had an $880 debit balance. A physical count of the supplies showed $325 of unused supplies available as of December 31. Prepare the required adjusting entry.

This question was asked on Jan 31, 2013.

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