a. Supplies: The Supplies account has a $640 debit balance to start the year. No supplies were purchased during the current year. A December 31 physical count shows $280 of supplies remaining. 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 b. Supplies: The Supplies account has an $1,650 debit balance to start the year. Supplies of $3,800 were purchased during the current year and debited to the Supplies account. A December 31 physical count shows $1,075 of supplies remaining. 01:02:15 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 159 Supplies: The Supplies account has a $5,700 debit balance to start the year. During the current year, supplies of $12,000 were purchased and debited to the Supplies account. The inventory of supplies available at December 31 totaled $3,680. 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. < Prev 19 of 20 Next > Supplies