Office supplies at the beginning of 2024 totaled $1,000. On August 15, Wolverine purchased an additional $3,400 of office supplies, debiting the Supplies account. By the end of the year, $500 of office supplies remains. Record the adjusting entry for office supplies at its year-end of December 31.

Office supplies at the beginning of 2024 totaled $1,000. On August 15 , Wolverine purchased an additional $3,400 of office supplies, debiting the Supplies account. By the end of the year, $500 of office supplies remains. Record the adjusting entry for office supplies at its year-end of December 31