A companys ledger shows a $2,400 debit to Supplies and a $2,400 credit to Notes Payable. Which of the following transactions could have resulted in this entry?

1) A $2,400 credit sale of supplies to a client.

2) A $2,400 cash sale of supplies to a client.

3) A purchase of $2,400 in supplies on credit.

4) A purchase of $2,400 in supplies with cash.