3 052 points Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal Step 3: Record the December 31 adjusting entry to get from step 1 to step 2. Assume no other adjusting entries are made during the year. Answer is not complete. a. The Supplies account has a $300 debit balance to start the year. No supplies were purchased during the current year. A December 31 physical count shows $110 of supplies remaining DR or CR? Supplies Step 1: Determine what the current account balance equals $ 300 Debit 300 190 Step 2 Determine what the current account balance should equal $ 110 Debit 110 Step 3: Record the December 31, adjusting entry to get from step 1 to step 2 Adjusting Entry Debit Credit Return to question Adjusting Entry 3 Supplies expense Supplies 0.52 points DEDI Crean 190 190 b. The Supplies account has an $800 debit balance to start the year. Supplies of $2,100 were purchased during the current year and debited to the Supplies account. A December 31 physical count shows $650 of supplies remaining. Step 1: Determine what the current account balance equals Debit Step 2: Determine what the current account balance should equal. Debit Step 3: Record the December 31, adjusting entry to get from step 1 to step 2 Supplies expense Supplies Supplies 3 The Supplies account has a $4,000 debit balance to start the year. During the current year, supplies of $9,400 were purchased and debited to the Supplies account. The inventory of supplies available at December 31 totaled $2.660. 0.52 points Step 1: Determine what the current account balance equals Step 2: Determine what the current account balance should equal Step 3: Record the December 31, adjusting entry to get from step 1 to step 2 Supplies expense Supplies 00 Debit Debit Supplies Return to quest