Actual supplies on hand as of December 31st are $350.Balance in the supplies account is $1,000.What is the adjusting journal entry to update the supplies balance?

Group of answer choices

Debit Supplies Expense $1,650, Credit Supplies 1,650

Debit Supplies $650, Credit Supplies Expense $650

Debit Supplies Expense $650, Credit Supplies $650.

Debit Supplies Expense $350, Credit Supplies $350