Brief Exercise 3-3

Schramel Advertising Companys trial balance at December 31 shows Supplies $6,700 and Supplies Expense $0. On December 31, there are $2,100 of supplies on hand. Prepare the adjusting entry at December 31, and using T-accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted balance in each account. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31

Supplies
12/3112/31 Bal.		12/3112/31 Bal.
12/3112/31 Bal.		12/3112/31 Bal.
Supplies Expense
12/3112/31 Bal.		12/3112/31 Bal.