On January 7, a corporation purchased supplies of $1,200. At the end of the month, it was determined that the supplies at the end of the period was only $200. What is the ADJUSTING entry that should be recorded as a result of this information?

1. Debit supplies $1,000; credit supplies expense $1,000

2. Debit supplies expense $1,000; credit Supplies $1,000

3. Debit accounts receivable $1,200; credit Supplies expense $1,200

4. Debit supplies $1,200 ; credit cash $1,200

5. Debit supplies expense $200; credit Supplies $200

6. Debit supplies $200; credit supplies expense $200