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Old 05-12-2008, 12:22 PM   #2 (permalink)
BostonGuy
 
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Join Date: May 2008
Location: Boston, Massachusetts
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Sounds like the adjusting entries are to adjust your prepaid expense account i.e. store/office supplies to reflect the actual quantities on hand. The AJE (adjusting journal entry) is to debit office expense and to credit the store/office supplies prepaid account....
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