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The Sheridan Bakery purchased $ 6440 worth of baking supplies on June 2 and recorded the purchase as an asset. On June 30, an inventory of the baking supplies indicated only $ 2740 on hand. The adjusting entry that should be made by the company on June 30 is debit Baking Supplies Expense, $ 3700; credit Baking Supplies, $ 2740, debit Baking Supplies, $ 3700; credit Baking Supplies Expense, $ 3700, debit Baking Supplies Expense. $ 3700; credit Baking Supplies. $ 3700, debit Baking Supplies Expense, $ 2740; credit Baking Supplies. $ 2740