At December 31, Y8, the end of the accounting year, a count of office supplies still on hand reflected $1,000. Prepare adjusting entry to adjust the office supplies inventory account. What is the amount of the adjustment $1,000 $1,500 $3,500 $4,000 $5,000 Indicate the account title to be debited. Acct Payable Cash Prepaid Expense Supplies Supplies Expense Indicate the account title to be credited. Acct Payable B. Cash Prepaid Expense Supplies Supplies Expense