For each separate case below, follow the three-step process for adjusting the supplies asset account at December 31. Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal. Step 3: Record the December 31 adjusting entry to get from step 1 to step 2 Assume no other odjusting enties are made during the yeai Supplies. The Supplies account has a $520 debit balance to start the year. No supplies were purchased during the current year. December 31 physical count shows $220 of supplies remaining Supplies Step 1: Determine what the current account balance equals Step 2: Determine what the current account balance should equal. Step 3: Record the December 31, adjusting entry to get from step 1 to step 2. Supplies. The Supplies account has an $1,350 debit balance to start the year. Supplies of $3,200 were purchased during the current year and debited to the Supplies account. A December 31 physical count shows $925 of supplies remaining. Supplies Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal Step 3: Record the December 31, adjusting entry to get from step 1 to step 2 Supplies. The Supplies account has a $5,100 debit balance to start the year. During the current year, supplies of $11,600 were urchased and debited to the Supplies account. The inventory of supplies available at December 31 totaled $3,320 Supplies Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal. Step 3: Record the December 31, adjusting entry to get from step 1 to step 2