Q.3 a) On March 1, SG Corporation had office supplies on hand of $900.During the month, SG purchased additional supplies costing $600.Approximately $400 of unused office supplies remain on hand at the end of the month. Prepare the necessary adjusting entry on March 31 to account for office supplies. b) Differentiate between: 1. Useful life and Book value 2. Depreciation and Accumulated depreciation 3. Cash discount and credit terms.