On January 1, 200X the Post Company started the year with a balance of $1,000 in the supplies account. During the year the company purchased supplies for $2,000. On December 31, 200X there was $1,200 of supplies on hand. What adjusting entry would be made on December 31, 200X?

Debit Supplies $1,800; Credit Cash $1,800

Debit Supply Expense $2,000; Credit cash $2,000

Debit Supply Expense $1,800; Credit Supplies $1,800

Debit Supply Expense $1,200; Credit Supplies $1,200

Central Company purchased equipment on January 1, 200X for $12,000. The equipment has a useful life of six years. What adjusting entry would be made for 200X to record depreciation expense?

		Debit depreciation expense $2,000; credit cash $2,000.
		Debit depreciation expense $12,000; credit cash $12,000.
		Debit depreciation expense $2,000; credit equipment $2,000.
		Debit depreciation expense $2,000; credit accumulated depreciation $2,000.