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On June 1, during its first month of operations, Soufflé Masters purchased supplies for $3,500 and debited the supplies account for that amount. At June 30, an inventory of supplies showed $1,000 of supplies on hand. What adjusting journal entry should be made for June?
Dependents
Individuals who rely on others for financial support or care, typically within the context of a family or a close relationship.
Rational Choice Theory
An economic principle that states individuals always make prudent and logical decisions that provide them with the highest amount of personal utility.
Macro Level
Analysis or perspectives focused on large-scale structures and processes in society, often contrasting with micro-level individual or small group interactions.
Maximize Interests
The process of optimally increasing the benefits or gains from a situation or decision.
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