Crane Company's trial balance at December $31$ shows Supplies $$8,700$ and Supplies Expense $$0.$ On December $31,$ there are $$2,200$ of supplies on hand.

Prepare the adjusting entry at December $31.($Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

Date Account Titles and Explanation

Dec. $31$

Debit

Credit

Credit

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List of Accounts

Using T$-$accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted balance in each account. $($Post entries in the order of journal entries presented in the previous part.$)$

Supplies