At the beginning of December, Global Corporation had $2,400 in supplies on hand. During the month, supplies purchased amounted to $3,200, but by the end of the month the supplies balance was only $2,900. What is the appropriate month-end adjusting entry?

Debit cash $2,900, credit supplies $2,900

Debit cash $2,700, credit supplies $2,700

Debit supplies expense $2,700, credit supplies $2,700

Debit supplies $2,700, credit supplies expense $2,700