Schramel Advertising Company's trial balance at December 31 shows Supplies $6,700and Supplies Expense $0. On December 31, there are $2,100of supplies on hand.

Prepare the adjusting entry at December 31, and using T-accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted balance in each account.(Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Date

Account Titles and Explanation

Debit

Credit

Dec. 31

Supplies

12/31

12/31 Bal.

12/31

12/31 Bal.

12/31

12/31 Bal.

12/31

12/31 Bal.

Supplies Expense

12/31

12/31 Bal.

12/31

12/31 Bal.