a. Supplies: The Supplies account has a $400 debit balance to start the year. No supplies were purchased during the current year. A December 31 physical count shows $160 of supplies remaining. Supplies 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 1. Supplies: The Supplies account has an $1.050 debit balance to start the year, Supplies of $2.600 were purchased during the current year and debited to the Supplies account. A December 31 physical count shows $775 of supplies remaining Supplies 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 C. Supplies: The Supplies account has a $4,500 debit balance to start the year. During the current year, supplies of $10,400 were purchased and debited to the Supplies account. The inventory of supplies available at December 31 totaled 52.960 Supplies 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