At the beginning of the year, office supplies of $1,000 were on hand. During the year, Tempo Air Conditioning Service paid $1,000 for more office supplies. At the end of the year, Tempo has $700 of office supplies on hand Read the requirements Requirement 1. Record the adjusting entry assuming that Tempo records the purchase of office supplies by initially debiting an asset account. Post the adjusting entry to the Office Supplies and Supplies Expense T-accounts. Make sure to include the beginning balance and purchase of office supplies in the Office Supplies T-account. Begin by recording the adjusting entry assuming that Tempo records office supplies by initially debiting an asset account. (Record debits first, then credits. Select the explanation on the last line of the journal entry.) Date Accounts and Explanation Debit Credit Now post the adjusting entry to the Office Supplies and Supplied Expense T-accounts Enter the beginning balances on the first line of each account. Use a "Jan 1" reference to show the beginning balance. Make sure to include the purchase of office supplies in the Office Supplies T-account, then post the adjusting entry. Use a "Bal" reference to show the ending balance of each account. (For accounts with a $0 unadjusted balance, make sure to enter "0" on the normal side of the accounts) Office Supplies Supplies Expense Time Remaining: 00.35 36 Next