OS 3-6 Prepaid (deferred) expenses adjustments LO P1 For each separate case below, follow the three-step process for adjusting the Supplies asset account at December 31. 432 points 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 front step 1 to step 2. eBook Assume no other adjusting entries are made during the year a rchoded during the current year. A Hent a The Supplies Recent has a300 di balne to start the one, Noisupplied w December 31 physical chun show. 5110 af supplied dem 12 Step 1: Determine what the current account balance equals Step 2: Determine what the current account balance should equal References Step 3: Record the December 31. adjusting entry to get from step 1 to step 2. Sube b. The Supplies account has an $800 debit balance to blareth and debited to the supplied account A Decem during the content year Step 1: Determine Stap mine what rent Grow Chapter 8 Exercises Chapter 3 Exercises i Savad e Supplies hecount hos SBOD dabit balance to start the year. Supplies of 52.100.ura purchased during the current your and debitad to the Supplier account A December 21 physical counshows S650 of suppile remaining 4.37 Points Supplies Stop 1 Determine what the current account balance equal eBook Step 2: Determine what the current account balance should equal Step 3. Record the December 31, adjusting entry to get frem stop to step 2 Print References The Supplies account has a $4.000 debit balance to start the year. During the current or supplies of $9.400 were purchased and debited to the supplies account. The inventory of supplies available at December 31 totaled $2,680. Supplies Step 1: Determine what the current account balance equals Step 2: Deformine what the current account balance should egual Step 3: Record the December 31. Bajusting entry to get from step 1 to step 2