Cooper Company has employed a bookkeeper who is inexperienced. On December 26, after reviewing the records for the year, you discover the following error. On May 1, Cooper Company purchased Supplies on account, $280. The bookkeeper recorded this by debiting Supplies Expense for $820 and crediting Cash for $820. Note: Assume that it is the company's policy to record the purchase of supplies in the Supplies account. Required: Prepare a correcting entry on December 26. Make sure to enter the day for each separate transaction. Date Account Title Debit Credit