Instructions X Journal The balance in the supplies account, before adjustment at the end of the year, is $5,420. The year end is December 31. Journalize the December 31 adjusting entry required if the amount of supplies on hand at the end of the year is $1,760. Refer to the Chart of Accounts for exact wording of account titles. Journalize the December 31 adjusting entry required if the amount of supplies on hand at the end of the year is $1,760. Refer to the Chart of Accounts for exact wording of account titles. PAGE 1 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY Chart of Accounts 1 Adjusting Entries 2 CHART OF ACCOUNTS 3 General Ledger ASSETS REVENUE 41 Fees Earned 11 Cash 12 Accounts Receivable 13 Supplies EXPENSES 14 Prepaid Insurance 51 Advertising Expense 15 Land 52 Insurance Expense 16 Equipment 53 Rent Expense 17 Accumulated Depreciation-Equipment 54 Salary Expense 55 Supplies Expense LIABILITIES 56 Utilities Expense 21 Accounts Payable 57 Depreciation Expense