chapters 1, 2 & 3, for MGT 211

40) The asset account, Office Supplies, had a beginning balance of $3700. During the accounting period, office supplies were purchased, on account for $3500. Supplies Expense for the accounting period is $4100. What is the ending balance of Office Supplies? A) $7200 B) $4100 C) $3100 D) $4300