For each separate case below. follow the three-step process for adjusting the Supplies asset account at December 31. 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. b. Supplies: The Supplies account has an $1,050 debit balance to start the year. Supplies of $2,600 were purchased during the current year and debited to the Supplies account. A December 31 physical count shows $775 of supplies remaining. 6. Suppllest The Supplies acenunt has an $1,050 debit balance to start tho year. Supplies of 52,600 were purchaped remaining. 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 c. Supplies: The Supplies account has a 54,500 debit balance to 5 tart the year. During the current year, supplies of $10.400 were purchased and debited to the Supplies account. The inventory of supplias available at December 31 totaled c. Supplios: The Supplies aceount has a $4,500 debit balance to start the year. During tho current year, supplios of $10,400 were purchased and deblted to the 5 upplies account. The inventory of supplies availahlo at Decernber 31 totated