Current Attempt in Progress Sheridan Company purchased supplies costing $6990 and debited Supplies for the full amount. At the end of the accounting period, a physical count of supplies revealed $1950 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be Debit Supplies Expense, $1950; Credit Supplies, $1950. Debit Supplies, $5040; Credit Supplies Expense, $5040. Debit Supplies Expense, $5040; Credit Supplies, $5040. Debit Supplies, $1950; Credit Supplies Expense, $1950