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Acme Co. began the year with $4, 200 in supplies and purchased $7, 500 in supplies during the year. At the year end, $3, 100

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Acme Co. began the year with $4, 200 in supplies and purchased $7, 500 in supplies during the year. At the year end, $3, 100 in supplied remained on hand. The required adjusting entry would be: Debit, Supplies Expense for $8, 600 Credit, Supplies for $8, 600 Debit, Supplies for $3, 100 Credit, Cash for $3, 100 Debit, Supplies Expense for $3, 100 Credit, Supplies for $3, 100 Debit, Supplies for $8, 600 Credit, Account Payable for $8, 600

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