At the beginning of the year, Golden Gopher Company reports a balance in Supplies of $500. During the year, Golden Gopher purchases an additional $3,300 of supplies for cash. By the end of the year, only $300 of supplies remains. Required: 1. Determine the financial statement effects for the purchase of supplies during the year. 2. Determine the financial statement effects for the adjusting entry for supplies used by the end of the year. Complete this question by entering your answers in the tabs below. Determine the financial statement effects for the purchase of supplies during the year. (Amounts to be deducted should be entered with minus sign.) At the beginning of the year, Golden Gopher Company reports a balance in Supplies of $500. During the year, Golden Gopher purchases an additional $3,300 of supplies for cash. By the end of the year, only $300 of supplies remains. Required: 1. Determine the financial statement effects for the purchase of supplies during the year. 2. Determine the financial statement effects for the adjusting entry for supplies used by the end of the year. Complete this question by entering your answers in the tabs below. Determine the financial statement effects for the adjusting entry for supplies used by the end of the year. (Amounts to be deducted should be entered with minus sign.)