At the beginning of the year, office supplies of $700 were on hand. During the year, Spring Air Conditioning Service paid $3,500 for more office supplies. At the end of the year, Spring has $400 of office supplies on hand. Read the requirements. Requirement 1. Record the adjusting entry assuming that Spring 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 Spring 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.) Requirements 1. Record the adjusting entry assuming that Spring 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. 2. Record the adjusting entry assuming that Spring 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. 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. 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 vith a $0 unadjusted balance, make sure to enter "0" on the normal side of the accounts.) Requirement 2. Record the adjusting entry assuming that Spring 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 Spring 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.) 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 r-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 account with a $0 unadjusted balance, make sure to enter "0" on the normal side of the accounts.) 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 which of the two approaches is used