5 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 from step 1 to step 2 Assume no other adjusting entries are made during the year a. The Supplies account has a $500 debit balance to start the year. No supplies were purchased during the current year. A December 31 physical count shows $210 of supplies remaining- OK Step 1: Determine what the current account balance equals DRO CR? 210 Debit Supplies 210 $ int 90 Step 2: Determine what the current account balance should equal 5 290 Credit 290 Step 3. Record the December 31, adjusting entry to get from step 1 to step 2 Adjusting Entry Debit Supplies expense 210 Supplies Credit 90 b. The Supplies account has an $1,300 debit balance to start the year. Spilles of 3,100 were purchased during the current year and debited to the Supplies account. A December 31 physical count shows $900 of supplies remaining. Step 1 Determine what the current account balance equals. Supplies Step 2 Determine what the current account balance should equal Step 3 Record the December 31, adjusting entry to get from step 1 to step 2 c. The Supplies account has a 55,000 debit balance to start the year. During the current year, supplies of $11.400 were purchased and debited to the Supplies account. The inventory of supplies available at December 31 totaled 53.260 Supplies