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 step2. Assume no other adjusting entries are made during the year. current year and debited to the Supplies account A December.31 physical count shows $750 of suppiles remaining