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Blue Spruce Corp. purchased $ 9 8 6 0 worth of laundry supplies on June 2 and recorded the purchase as an asset. On June

Blue Spruce Corp. purchased $9860 worth of laundry supplies on June 2 and recorded the purchase as an asset. On June 30, an inventory of the laundry supplies indicated only $1740 on hand. The adjusting entry that should be made by the company on June 30 is
debit Supplies Expense, $1740; credit Supplies, $1740.
debit Supplies Expense, $8120; credit Supplies, $8120.
debit Supplies, $8120; credit Supplies Expense, $8120.
debit Supplies, $1740; credit Supplies Expense, $1740.
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