b. The Supplies account has an $1,700 debit balance to start the year. Supplies of $3,900 were purchased during the current year and debited to the Supplies account. A December 31 physical count shows $1,100 of supplies remaining. Supplies Step 1: Determine what the current account balance equals. Debit Step 2: Determine what the current account balance should equal. $ 1,100/Debit 1,100 Step 3: Record the December 31, adjusting entry to get from step 1 to step 2 Adjusting Entry Debit Credit