At the beginning of the year, office supplies of $ 1 comma 200$1,200were on hand. During the year, Bolt Air Conditioning Service paid $ 3 comma 000$3,000for more office supplies. At the end of the year, Bolt has $ 200$200of office supplies on hand. Read the requirements LOADING....

Requirement 1. Record the adjusting entry assuming that Bolt 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 Bolt 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.)

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Date	Accounts and Explanation	Debit	Credit

Now post the adjusting entry to the Office Supplies and Supplies Expense T-accounts. Enter the beginning balances on the first line of each account. Use a "Jan.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.)

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Office Supplies		Supplies Expense

Requirement 2. Record the adjusting entry assuming that Bolt records the purchase of office supplies by initially debiting an expense account. Post the adjusting entry to the Office Supplies and Supplies Expense T-accounts. Make sure to include the beginning balance in the Office Supplies T-account, and the purchase of office supplies in the Supplies Expense T-account. Begin by recording the adjusting entry assuming that Bolt records office supplies by initially debiting an expense account. (Record debits first, then credits. Select the explanation on the last line of the journal entry.)

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Date	Accounts and Explanation	Debit	Credit

Now post the adjusting entry to the Office Supplies and Supplies Expense T-accounts. Make sure to include the beginning balance in the Office Supplies T-account, and the purchase of office supplies in the Supplies Expense T-account.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.)

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Office Supplies		Supplies Expense

Requirement 3. Compare the ending balances of the T-accounts under both approaches. Are they the same?

The ending balances in the Office Supplies account and the Supplies Expense account are (the same) or (different)

(depending on) or (regardless of ) which of the two approaches is used.