Requirement 1. Record the adjusting entry assuming that BoltBoltrecords the purchase of office supplies by initially debiting an asset account. Post the adjusting entry to the Office Supplies and Supplies Expense T-accounts. Make sure to include the beginning balance and purchase of office supplies in the Office Supplies T-account.

Begin by recording the adjusting entry assuming that BoltBoltrecords office supplies by initially debiting an asset account. (Record debits first, then credits. Select the explanation on the last line of the journal entry.)

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Date	Accounts and Explanation	Debit	Credit
	Supplies Expense
			Office Supplies
			To record office supplies used.

Now post the adjusting entry to the Office Supplies and Supplies Expense T-accounts.Enter the beginning balances on the first line of each account. Use a "Jan.Jan.1" reference to show the beginning balance. Make sure to include the purchase of office supplies in the Office Supplies T-account, then post the adjusting entry. Use a "Bal." reference to show the ending balance of each account. (For accounts with a $0 unadjusted balance, make sure to enter "0" on the normal side of the accounts.)

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Office Supplies		Supplies Expense
Jan. 1	1200									0	Jan. 1
Purchase	3000							4000	Expense
Bal.							4000	Bal.

Requirement 2. Record the adjusting entry assuming that BoltBoltrecords the purchase of office supplies by initially debiting an expense account. Post the adjusting entry to the Office Supplies and Supplies Expense T-accounts. Make sure to include the beginning balance in the Office Supplies T-account, and the purchase of office supplies in the Supplies Expense T-account.Begin by recording the adjusting entry assuming that BoltBoltrecords office supplies by initially debiting an expense account. (Record debits first, then credits. Select the explanation on the last line of the journal entry.)

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Date	Accounts and Explanation	Debit	Credit
	Supplies Expense
			Office Supplies
			To record office supplies purchased on account.

Now post the adjusting entry to the Office Supplies and Supplies Expense T-accounts. Make sure to include the beginning balance in the Office Supplies T-account, and the purchase of office supplies in the Supplies Expense T-account.Enter the beginning balances on the first line of each account. Use a "Jan.Jan.1" reference to show the beginning balance. Make sure to include the purchase of office supplies in the Office Supplies T-account, then post the adjusting entry. Use a "Bal." reference to show the ending balance of each account. (For accounts with a $0 unadjusted balance, make sure to enter "0" on the normal side of the accounts.)

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Office Supplies		Supplies Expense

Requirement 3. Compare the ending balances of the T-accounts under both approaches. Are they the same?The ending balances in the Office Supplies account and the Supplies Expense account are which of the two approaches is used.

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