b. The Supplies account has an $1,600 debit balance to start the year. Supplies of $3,700 were purchased during the current year and debited to the Supplies account. A December 31 physical count shows $1,050 of supplies remaining. DR or CR? 16,000 Debit Supplies 16,000 Step 1: Determine what the current account balance equals. $ Step 2: Determine what the current account balance should equal. Step 3: Record the December 31, adjusting entry to get from step 1 to step 2. c. The Supplies account has a $5,600 debit balance to start the year. During the current year, supplies of $12,600 were purchased and debited to the Supplies account. The inventory of supplies available at December 31 totaled $3,620. Supplies Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal. Step 3: Record the December 31, adjusting entry to get from step 1 to step 2