ABC Company adjusts its accounts on a monthly basis. The company closes its accounts at the end of each fiscal year. The following is the unadjusted trial balance prepared at December 31, 2020: ABC Company Unadjusted Trial Balance December 31, 2020 Cash $15,000 Notes receivable 30,000 Unexpired Insurance 4,500 Office Supplies 1,600 Land 78,000 42,000 Equipment Accumulated depreciation: Equipment $21,600 Notes Payable 40,000 Unearned service revenue 56,000 Capital stock 20.000 Retained Earnings 10,500 Dividends 2,000 Service revenue 43,800 Salaries expense 12,000 Depreciation expense: Equipment 4,500 Rent expense 500 Electricity expense 1,800 VEVO 191.900 Dividends 2,000 Service revenue 43,800 Salaries expense 12,000 Depreciation expense: Equipment 4,500 Rent expense 500 Electricity expense 1,800 $191,900 $191,900 Other data: 1. Office supplies on hand at December 31, 2020, $700. 2. On September 1, 2020, ABC Company purchased a one-year insurance policy and paid $6,000. 3. Useful life of the equipment is 7 years. 4. According to the records, $12,000 of advance cash receipts originally recorded as unearned service revenue has been earned for the month of December The adjusting entry at December 31, 2020 to record the office supplies used during December includes: Select one: a. A debit to Supplies Expense for $900 and a credit to Office Supplies for $900 b.A debit to Supplies Expense for $700 and a credit to Office Supplies for $700 C.A debit to Supplies Expense for $1,600 and a credit to Office Supplies for $1,600 d. A debit to Office Supplies for $700 and a credit to Supplies Expense for $700