The following information relates to the supplies account

Question

The following information relates to the supplies account of ABC Company:

                  January 1, 2015       December 31, 2015

Supplies                 ?                      38,000

ABC Company reported supplies expense of $17,000 in its 2015 income statement and purchased $23,000 of supplies during 2015.

Calculate ABC Company's supplies balance at January 1, 2015. Do not use decimals in your answer.