At December $31,$ the unadjusted trial balance of H&R Tacks reports Supplies of $$9,500$ and Supplies Expense of $$0.$ On December $31,$

supplies costing $$7,950$ are on hand.

Required:

Prepare the adjusting journal entry on December $31.$

Post the beginning balances and adjusting entries to the following $T-$accounts.

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Post the beginning balances and adjusting entries to the following T$-$accounts.