3. Consider Adjusting Journal Entries - Prepaid Expenses: Reese Company purchased office supplies costing $4,000 and debited Office Supplies for the full amount. At the end of the accounting period, a physical count of office supplies revealed $1,100 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be:

	debit Office Supplies, $2,900; credit Office Supplies Expense, $2,900.
	debit Office Supplies, $1,100; credit Office Supplies Expense, $1,100.
	debit Office Supplies Expense, $1,100; credit Office Supplies, $1,100.
	debit Office Supplies Expense, $2,900; credit Office Supplies, $2,900.