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15. The Kookie Kutter Bakery purchased $6,500 worth of baking supplies on June 2 and recorded the purchase as an asset. On June 30, an

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15. The Kookie Kutter Bakery purchased $6,500 worth of baking supplies on June 2 and recorded the purchase as an asset. On June 30, an inventory of the baking supplies indicated only $3,000 on hand. The adjusting entry that should be made by the company on June 30 is A) debit Baking Supplies Expense, $3,500; credit Baking Supplies, $3,000. B) debit Baking Supplies, $3,500; credit Baking Supplies Expense, $3,500. C) debit Baking Supplies Expense, $3,500; credit Baking Supplies, $3,500. D) debit Baking Supplies Expense, $3,000; credit Baking Supplies, $3,000

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