Chart of Accounts CHART OF ACCOUNTS General Ledger ASSETS 11 Cash 12 Accounts Receivable REVENUE 41 Fees Earned Instructions On December 31, the balance in the office supplies account is $1,280. A physical count shows $570 worth of supplies on hand. Required: Prepare the adjusting entry for supplies. Refer to the Chart of Accounts for exact wording of account titles. General Journal 13 Office Supplies 14 Prepaid Insurance 16 Office Building EXPENSES 51 Advertising Expense 52 Insurance Expense Prepare the adjusting entry for supplies on December 31. Refer to the Chart of Accounts for exact wording of account titles. 17 Accumulated Depreciation 53 Interest Expense 54 Wages Expense LIABILITIES 55 Office Supplies Expense 21 Accounts Payable 58 Utilities Expense DATE DESCRIPTION 22 Notes Payable 57 Depreciation Expense 1 23 Uneamed Fees 58 Professional Services Expense 24 Wages Payable 59 Miscellaneous Expense 25 Interest Payable EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends JOURNAL PAGE 1 ACCOUNTING EQUATION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY