Required information Exercise 3-10A Recording supplies and identifying their effect on financial statements LO 3-1, 3-3, 3-4 [The following information applies to the questions displayed below.] Sye Chase started and operated a small family architectural firm in Year 1. The firm was affected by two events: (1) Chase provided $15,700 of services on account, and (2) he purchased $5,600 of supplies on account. There were $1,050 of supplies on hand as of December 31, Year 1. Exercise 3-10A Part a, b, and e Required a. b. & e. Record the two transactions in the accounts. Record the required year-end adjusting entry to reflect the use of supplies and the required closing entries. Post the entries in the T-accounts and prepare a post-closing trial balance. (Select "a1, a2, or b" for the transactions in the order they take place. Select "cl" for closing entries. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Accounts Receivable Supplies Beg. Bal. a1. Beg. Bal. a2. 15,700 5,600 14,650 b. End. Bal. 15,700 End. Bal. 9,050 Accounts Payable Retained Earnings Beg. Bal. Beg. Bal. 5,600 a2. 14,650 15,700 cl End. Bal. 5,600 End. Bal. 1,050 Service Revenue Supplies Expense Beg. Bal. cl Beg. Bal. b. 15,700 a1. 14,650 14,650 End. Bal. 15,700 End. Bal. View transaction list Journal entry worksheet