During the first year of Tate company operations, all purchases were recorded as assets. Supplies in the amount of $38,800 were purchased. Actual year-end supplies amounted to $6,600. The adjusting entry for store supplies will

Group of answer choices

decrease supplies by $6,600.

increase net income by $32,200.

debit Accounts Payable for $6,600.

increase expenses by $32,200.