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Bailey Company purchased supplies on accounts recording the supplies as supplies expense in the amount...

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Accounting

Bailey Company purchased supplies on accounts recording the supplies as supplies expense in the amount of $2,000. At the end of the period the inventory of supplies was $250. The adjusting entry to be recorded would be:

Multiple Choice

A. Debit Supplies Expense and Credit Supplies for $1,750.

B. Debit Supplies Expense and Credit Supplies for $250.

C. Debit Supplies and credit Supplies expense for $250

D. Debit Supplies and credit Supplies expense for $1,750.

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