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Grady, Inc., follows the practice of expensing supplies as they are received. At year-end, Grady has an inventory

of $400 of supplies on hand. What is the year-end adjusting entry under accrual accounting?


  • Supplies inventory $400
  • Supplies expense $400


  • Supplies inventory $400
  • Accounts payable $400


  • Accounts payable$400
  • Supplies expense $400


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