Feazell Hardware bought $75,00 supplies during the year. At the end of the year, the company performed a physical count and found that $40,000 of inventory was on hand. The adjustment entry to record the transaction will include a. Supplies expense will be debited $40,000 and supplies will be credited $40,000 N b. Supplies expense will be debited $35,000 and supplies will be credited $35,000 Supplies will be debited $40,000 and supplies expense will be credited $40,000 di supplies will be debited $35,000 and supplies expense will be credited $35,000