25. Annual depreciation on Office Equipment is $1,475. Nothing has been recorded all year. The adjusting entry on December 31 , would be: 26. The supplies account had a beginning balance of $1.750. Supplies purchased during the period totaled $3,500. At the end of the period before adjustment, $350 of supplies were on hand. Prepare the adjusting entry for supplies. 25. The company paid $20,000 for renting the office building for 2 years on January 1 . The amount was correctly posted to prepaid rent on that day. What is the adjusting journal entry on December 31 of that same year? 28. A company sells $10.000 of merchandise on credit. No discounts available. What is the entry