At the beginning of the year, office supplies of $1,200 were on hand During the year, Rocket Air Conditioning Service paid $2,000 for more office supplies. At the end of the year, Rocket has $500 of office supplies on hand Read the requirements Requirement 1. Record the adjusting entry assuming that Rocket records the purchase of office supplies by initially debiting an asset account Post the adjusting enby 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 Rocket records office supplies by initially debiting an asset account. (Record dubits brst, then credits. Select the explanation on the last line of the joumal entry) Date Accounts and Explanation Debit Credit