During its first year of operations,Able Co.purchased $39,600 worth of supplies.Atthe end of the year,the balance sheet showed a balance of $1,760 in the Supplies account.Prepare the necessary adjusting entry.

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The Answer of During its first year of operations,Able Co.purchased $39,600 worth of supplies.Atthe end of the year,the balance sheet showed a balance of $1,760 in the Supplies account.Prepare the necessary adjusting entry.

During Its First Year of Operations,Able Co