1. For each independent scenario listed below:

   1. Prepare the original entry; then

   2. Prepare the adjusting entry

The fiscal year end for this company is December 31, 2020. You do not need to include explanations. SHOW YOUR CALCULATIONS

1. On January 1 we purchased office supplies for $3,500 in cash. At the end of the fiscal, a physical count of office supplies revealed $1,700 were on hand.

Date		Particulars	DR					CR