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On January 1, Year 2 , the Supplies account of Sheidon Company had a balance of $1,300. During the year, the company purchased $3,800 of

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On January 1, Year 2 , the Supplies account of Sheidon Company had a balance of $1,300. During the year, the company purchased $3,800 of supplles on account and made partial payments totaling $2,200 on those accounts. On December 31 . Year 2, Sheldon determined that there were $2,100 of supplies on hand. Which of the following would be reported on Sheldon's Year 2 financial statements? $2,900 of supplies; $3,800 of supplies expense $2,100 of supplies: $1,700 of supplies expense $2,100 of supplies: $3,000 of supplies expense $2,900 of supplies: $800 of supplies expense

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